Wow. AOL got rolled by the Puff Ho. Talk about turning a trick.
This is another stunning victory for the uber left in the information battle space, in the war of ideas.
AOL has agreed to purchase that libelous, anti-semitic trash site, the Puff Ho, for $315 million dollars. I am shocked, but not. When the left loves you, the most ridiculous is possible. This could never happen on the right. Yes, Salem bought Hot Air from Michelle Malkin for an undisclosed amount, but it was chump change next to this, and even they are licking their wounds. Monetizing these babies is well ........ tricky. But not for the Puff Ho.
What a scam. Huff Po claims to have "turned a profit" in 2010. Knowing what I know about the net, just barely, if that. Those clowns at AOL bought an idea. They are going to lose their shirt on this. Perhaps it was the 20 million uniques a month that conned them. But they have lost any semblance of "balance." The Huff Po is rabid; is that the image AOL wants? I bet lots of rational, sane Americans will bail on AOL. AOL phone number: 1-800-827-6364.
Huffington Post agrees to $315 million buyout from AOL Washington Post (hat tip Van)
Huffington Post founder Arianna Huffington, who made the announcement on her site Sunday night, will become president and editor in chief of 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 a powerful player in Democratic circles as a result of her venture.
In a stroke, AOL greatly expands its content offerings and reach on the Internet, part of its strategy to move away from selling the dial-up service that gave millions of Americans their first online experiences, but which is now in grave decline.
Huffington Post reaches more than 20 million unique visitors each month, making it one of the most popular news and commentary sites on the Internet. It is based in New York City, as is AOL.
Huffington and Huffington Post chairman Kenneth Lerer co-founded the site in 2005 and presided over its rapid growth. "HuffPo" said it turned a profit in 2010, but as a private company it does not publicly report its sales and earnings.
The companies said Sunday that about $300 million of the sale price will be in cash, with the balance in AOL stock - a spectacular return for Huffington Post, which was founded on a $1 million investment less than six years ago. It is privately owned by its two co-founders, as well as a group of investors.
AOL, which began in the Washington area but long ago moved its headquarters to New York, has been gradually moving out of its deflating Internet-access business and transforming itself into an online content machine. In addition to its eponymous website, AOL owns a series of well-known digital brands, including Mapquest, Politics Daily, the pop-culture news site PopEater, movie-news and ticket reservation service Moviefone, and the tech-news and review sites Engadget and TechCrunch. It also owns Patch.com, a network of "hyper-local" news sites covering dozens of communities across the country, including several in the Washington area.
I am canceling my subsxriptions. I strongly suggest you do same. Do you want to finance your mortal enemy? To cancel 1-800-827-6364
UPDATE: I had two AOL accounts .....both have been canceled today.
UPDATE: Nano comments: The second half of this show discusses the deal and one of the key nuggets is the CEO of AOL sits on one of the boards of the initial capital investors into HuffPo which is almost a clear conflict of interest to line his own pockets with AOL corporate money. (here)