Kara Swisher in News on February 6, 2011 at 9:01 pm PT
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.