AOL is really taking this media-company thing seriously: AOL has inked a $315 million deal to buy The Huffington Post, the next step in CEO Tim Armstrong’s strategy to reinvent the Internet provider as a media company. AOL will pay $300 million in cash and the rest in stock. Arianna Huffington will control all of AOL's editorial content and assume the title of president and editor in chief of the newly created Huffington Post Media Group. She'll oversee not only popular AOL websites like Techcrunch and the local Patch news sites, but also properties like MapQuest and MovieFone.
Read it at The New York Times
