NPR is reporting that AOL Inc. has agreed to buy online news hub the Huffington Post for $315 million. The acquisition, announced early Monday, is thought to be a "bold move" by AOL CEO Tim Armstrong to reshape AOL's content. AOL, which has recently purchased popular online tech publications TechCrunch and Endgadget and Mapquest, will add Huffington Post co-founder, editor-in-chief and media star Arianna Huffington to the management team. Huffington will lead the newly formed Huffington Media Group, which will integrate Huffington Post and AOL content. She will oversee all content.
The move will create a combined base of 117 million visitors a month in the United States and reach 270 billion people globally. Armstrong, a former Google, Inc. exec, has been trying to drive more people to the AOL websites more frequently to boost online advertising sales. This move might do it. No word on what this means for the Huffington Post's recently announced black news site GlobalBlack.
Read more at NPR.