AOL has paid $315 million to buy the Huffington Post. I know this because there's hundreds of posts on HuffPo linking to real news articles reporting the fact.
The yuppie-friendly liberal blog was snapped up, in a strategy similar to the merger of Newsweek and The Daily Beast. Arianna Huffington will be named editor-in-chief of the merged company's media group. Maybe this one will work out better than AOL's last great combo.
How will this change journalism? As noted by Tim Rutten of the L.A. Times, "To grasp the Huffington Post's business model, picture a galley rowed by slaves and commanded by pirates." In other words, not much.
What will AOL-Huffington Post merger mean?
February 7, 2011
AOL Hearts HuffPo. The loser? Journalism
February 9, 2011