February 07, 2011

Congratulations Arianna

Arianna Huffington has sold the Huffington Post to AOL in a $315 million dollar deal:

The Huffington Post, which began in 2005 with a meager $1 million investment and has grown into one of the most heavily visited news Web sites in the country, is being acquired by AOL in a deal that creates an unlikely pairing of two online media giants.

The two companies completed the sale Sunday evening and announced the deal just after midnight on Monday. AOL will pay $315 million, $300 million of it in cash and the rest in stock. It will be the company's largest acquisition since it was separated from Time Warner in 2009.

Huffington will stay on as director of all of AOL's editorial content and become of president and editor in chief of what they are calling the Huffington Post Media Group.

I love to see free-market thrive, and its edifying to see that beneath her liberal veneer, Arianna is still a capitalist at heart.

Posted by Confederate Yankee at February 7, 2011 10:36 AM

... and the Treasury should be seeing about $45 million in capital gains taxes from Arianna.
She a "good soul," so I'm sure she will send more ... LOL

Posted by: Neo at February 7, 2011 12:46 PM

Yeah, profit for me, but not for thee.

Posted by: Federale at February 7, 2011 12:48 PM

The rabble over there is revolting.

Posted by: Pablo at February 7, 2011 06:17 PM

Yeah, ain't it funny how underneath that stalwart socialist/communist facade was a screaming capitalist yearning to be free(d). And even funnier is how she just dumped on 99.99% of her readers/enablers without batting an eye.

Posted by: emdfl at February 7, 2011 06:56 PM

And I heard the AOL stock dropped by an equal amount.
Gotta love capitalism.

Posted by: JimShyWolf at February 9, 2011 06:29 PM