New York - Officially launching a new chapter in its bid to become an Internet content powerhouse, AOL (NYSE: AOL) on Monday completed its $315 million acquisition of The Huffington Post, the popular progressive news site that counts nearly 27 million unique monthly visitors.
The deal was first announced on Feb. 7.
Arianna Huffington, The Huffington Post’s co-founder and editor-in-chief, is now the president and editor-in-chief of AOL’s new Huffington Post Media Group, which oversees AOL Media and AOL Local properties such as Engadget, TechCrunch, Moviefone, MapQuest, AOL Music and Patch.
AOL said the group will have a combined base of 117 million unique visitors a month in the U.S. and 253 million worldwide.
Huffington launched the New York-based news, analysis and lifestyle website in 2005.