Updated Trends: Famed online newspaper, Huffington Post will be purchased by AOL for $315 million, and as per the deal it will create an user pool of 270 million users, of which 117 would be US based. AOL will purchase the website group by paying $300 million in cash, the amount will be distributed between Arianna Huffington and Kenneth Lerer, who are the co-founders of the website and also among some of its minor shareholders.
After the sell off, Ms Huffington will be taking care of AOL’s important websites such as Engadget and Techcrunch, and she will also look forward to retain the role of an important person in the upcoming website company.
According to Ms Huffington, she wants to be in the company forever because the opportunities here are endless. There are more expectations from AOL, which states, the purchase will also boost their advertising revenue. After the purchase is finally completed, Huffington has plans to pump in an additional $25 million, to boost its website.