US internet definite AOL has concluded to a buyout of the Huffington Post online newspaper.
The $315m (222m) treat will emanate an internet media organisation with 270 million users, inclusive 117 million in the US.
The buy cost - $300m of that will be in money - will be paid to co-founders Arianna Huffington and Kenneth Lerer and a couple of minority shareholders.
Ms Huffington - now editor of her namesake headlines service - will head the amalgamated firm's calm division.
This means she will take on shortcoming for AOL sites such as Engadget and Techcrunch, together with maintaining her stream purpose at the egghead centre-left website she helped set up in 2005.
"The Huffington Post will go on on the same trail you have been on is to final 6 years - even though now at light speed - by mixing with AOL," mentioned Ms Huffington in a joint matter .
AOL expects the buy to help speed up its flagging promotion revenues in a year that arch senior manager Tim Armstrong maintains will spot a turnaround is to company that divorced from Time Warner in 2009.
The Huffington Post is approaching to minister an extra 25 million users to the internet giant.
"The multiple of AOL's infrastructure and scale with the Huffington Post's pioneering draw close to headlines and innovative community-building amid a extended and complex assembly will spot a seminal short time in the expansion of digital broadcasting and online engagement," mentioned the two companies in their statement.
The contract is approaching to be finished in Mar or April and will need regulatory consent in the US.
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