Aol acquires Huffington Post following sales negotiations
Media giant Aol is to add the Huffington Post to its portfolio following sales negotiations between the two
Sales negotiations between the Huffington Post and Aol have resulted in a deal which will see the media firm acquire the news source, it has been announced.
Under the agreement, founder of the newspaper Arianna Huffington will be the head of the new Huffington Post Media Group, which will include all content from the newspaper and Aol.
The group will be responsible for news, tech, local, multicultural content and video content, as well as entertainment and community channels.
The Huffington Post already boasts almost 25 million unique monthly visitors, but the new deal is expected to see the newspaper and Aol reach a combined global audience of 270 million people.
Chairman and chief executive officer of Aol Tim Armstrong said the team up will help both firms "embrace the digital future".
Meanwhile, Cisco recently announced it is in sales negotiations with digital media firm Inlet Technologies over a potential acquisition worth £59 million.