"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.Arianna will take control of all of AOL’s editorial content as president and editor in chief of a newly created Huffington Post Media Group.
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."
I hope AOL signed a pre-nup agreement.
While many congratulate Arianna on her multi-million dollar coup, Huffypoo's loyal liberal readers, fans and lil people bloggers are not happy. Says one about the site's uncertain future, "You've got nailed."
Others, knowing how concerned progressives are with a living wage, wonder "Was It Fun Working For Free To Make Arianna Richer?"
And, of course, being a good progressive, Arianna will most certainly pay the higher tax rate on that $300 million cash transaction which enriched her bank account. Mustn't be a hypocrite, Arianna.
Ain't capitalism grand?
