The deal is officially done. On Monday, AOL formally closed its $315 million acquisition of the online digital media juggernaut known as The Huffington Post.
As teased during last month’s formal announcement of the forthcoming acquisition, AOL has effectively fused the Huffington Post with AOL Media and AOL Local to form the new Huffington Post Media Group. Arianna Huffington will manage the freshly fashioned group and remain as editor-in-chief of the online publication she founded.
According to AOL, the acquisition will help AOL become “one of the largest destinations for smart content and community on the Internet.”
On Monday, AOL also announced a full slate of new hires to help drive the venture’s initial progress.
“Through this acquisition, AOL is accelerating its strategy to deliver a scaled and differentiated array of premium news, analysis, and entertainment produced by thousands of writers, editors, reporters, and videographers around the globe,” AOL said in a statement.
The Wall Street Journal says the new hires “are the first in a series of staff additions that the group will make as it broadens its reporting in areas including politics, entertainment, health, food, parenting and personal finance.”