You've Got Arianna: AOL Buys Huffington Post for $315 Million in Cash and Stock, Appoints Huffington Editor in Chief

In a bold and definitive move, AOL is paying $315 million, mostly in cash, to buy the Huffington Post, one of the Web's most prominent news and opinion sites.

As part of the deal, Huffington Post co-founder Arianna Huffington--who was derided by some when she co-founded the left-leaning site in 2005 with investor and well-known communications exec Kenneth Lerer--will become editor in chief of a new unit that has purview over all of AOL content properties.

The deal was signed just this afternoon.

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