AOL Buys The Huffington Post For $315 Million

The Huffington Post is being acquired by AOL for $315 million ($300 million in cash, the rest in stock).

NYT reports that Arianna Huffington (pictured here) will take the reigns of “AOL’s editorial content as president and editor in chief of a newly created Huffington Post Media Group.”

HuffPo, which currently employs more than 200 people, will reportedly generate $60 million in revenue this year (last year, it pulled in $31 million).