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February 8, 2011 2:34 pm

AOL Buys Huffington Post for $315 Million

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Washington Post – Huffington Post, the liberal-leaning online news site that has been one of the Internet’s start-up success stories, said it agreed to a $315 million buyout late Sunday night from AOL Inc., the elder statesman of online access and digital content.

Huffington Post founder Arianna Huffington, who made the announcement on her site Sunday night, will become president and editor in chief the Huffington Post Media Group, which will put the news outlet she co-founded under the same ownership as AOL’s collection of sites. Huffington – the former wife of one-time Republican Senate candidate Michael Huffington – has evolved into a well-known pundit and author and is a powerful player in Democratic circles as a result of her venture.

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