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AOL Purchases The Huffington Post

How much does it cost to purchase one of the highest trafficked content aggregating blogs in the nation?  Apparently a $315 million price tag was a good deal for AOL CEO Tim Armstrong as his company acquired The Huffington Post in an effort to better develop their content.  AOL has appointed Arianna Huffington as president and editor-in-chief of their newest asset — Huffington Post Media Group — and placed her in charge of properties including TechCrunch, Moviefone, and Mapquest.

The AOL-HuffPost deal will likely spell the end for AOL news sites such as Politics Daily and Daily Finance and also led to the resignation of Huffington Post CEO Eric Hippeau.

The new slogan for AOL and HuffPo is “1 + 1 = 11″ — an equation that is meant to portray that the sum of the two entities is greater than their parts.

UPDATE:  Arianna Huffington is rumored to have personally netted around $100 million from the deal with AOL.

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