AOL purchases Huffington Post for $315 million

NEW YORK (CNNMoney) -- AOL, the online media company that has recently snatched several smaller content firms, has agreed to purchase news blog service The Huffington Post for $315 million, the two companies announced Monday.

The companies said Arianna Huffington, The Huffington Post's co-founder and editor-in-chief, will be named president and editor-in-chief of The Huffington Post Media Group, which will include all Huffington Post and AOL content.

Huffington Post is known for its political coverage, with a left-of-center bent, as well as blogging about sports, entertainment and local news in selective markets.

Read more: http://money.cnn.com/2011/02/07/technology/aol_huffington_post.cnnw/index.htm