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WASHINGTON (AFP) – US Internet bourgeois AOL module acquire The Huffington Post, a apace ontogeny programme website with nearly 25 meg monthly visitors, for $315 million, the consort declared Monday.

Approximately $300 meg module be paid in cash, it said.

The Huffington Post is privately owned, but the planned dealings is person to polity approvals.

The boards of directors of apiece consort and shareholders of The Huffington Post have authorised the transaction, due to close in the New first- or primeval second-quarter of 2011, the announcement said.

Arianna Huffington, The Huffington Post's co-founder and editor-in-chief, module be titled president and editor-in-chief of The Huffington Post Media Group, which module combine every Huffington Post and AOL content.

That includes Engadget, TechCrunch, Moviefone, MapQuest, Negroid Voices, PopEater, AOL Music, AOL Latino, AutoBlog, Patch, StyleList, and other sites.

"The acquisition of The Huffington Post module create a next-generation American media consort with orbicular accomplish that combines content, community, and social experiences for consumers," said Tim Armstrong, chair and CEO of AOL. "Together, our companies module acceptation the digital forthcoming and embellish a digital destination that delivers unmatched experiences for both consumers and advertisers."

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