AOL Acquires the Huffington Post

America Online (AOL) publicly announced Monday that it has acquired the Huffington Post.

"The acquisition of The Huffington Post will create a next-generation American media company with global reach that combines content, community, and social experiences for consumers," Tim Armstrong, chairman and CEO of AOL, said in a press release. "Together, our companies will embrace the digital future and become a digital destination that delivers unmatched experiences for both consumers and advertisers."

The Huffington Post was co-founded six years ago by Arianna Huffington and Ken Lerer and has grown to become a popular online news, analysis, and lifestyle website.

"This is truly a merger of visions and a perfect fit for us," Huffington said in the press release. "The Huffington Post will continue on the same path we have been on for the last six years – though now at light speed – by combining with AOL.

"Our readers will still be able to come to the Huffington Post at the same URL, and find all the same content they've grown to love, plus a lot more – more local, more tech, more entertainment, more finance, and lots more video.

"We are fusing a legendary and powerful new media brand with a vibrant, innovative news organization, known for its distinctive voice, a highly engaged audience, an expertise in community-building, and a track record for demystifying the news and putting flesh and blood on the data while drawing our audience into the conversation."