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WASHINGTON (Reuters) – AOL Inc has united to purchase The Huffington Post, the influential and apace ontogeny news, psychotherapy and lifestyle website, for $315 million, the U.S. cyberspace consort announced on Monday.

The move module create a media group that module have a compounded base of 117 meg visitors a period in the United States, and accomplish 270 meg people globally, AOL said in a statement.

Arianna Huffington, co-founder and application in honcho of The Huffington Post, module lead a newly bacilliform The Huffington Post Media Group, which module integrate all Huffington Post and AOL content, AOL said in a statement.

Approximately $300 meg module be paying in cash in the purchase that has been authorised by the boards of directors of both companies and shareholders of The Huffington Post, it said.

The deal, due to be winking in the late first, or primeval second lodge of 2011, module consortium AOL's infrastructure and bit with The Huffington Post's pioneering move to programme and original accord building, AOL said.

"The acquisition of The Huffington Post module create a next-generation American media consort with orbicular accomplish that combines content, community, and ethnic experiences for consumers," said Tim Armstrong, Chairman and CEO of AOL.

"Together, our companies module acceptation the digital forthcoming and embellish a digital instruction that delivers unmatched experiences for both consumers and advertisers," he said.

AOL said the acquisition module qualify its strategy to have an clothing of premium news, psychotherapy and entertainment.

"By uniting AOL and The Huffington Post, we are creating digit of the maximal destinations for smart noesis and accord on the Internet," said The Huffington Post's co-founder and chairman, Kenneth Lerer.

The Huffington Post, which began in 2005, has grown into digit of the most hard visited programme Web sites in the United States.

(Reporting by Sakthi Prasad in Bangalore; Editing by Vinu Pilakkott and Anthony Boadle)

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