Woodinville Patch, AOL, and the Huffington Post

AOL CEO Tim Amstrong announced the aquisition of the Huffington Post for $315 million. Here is what Armstrong had to say:

"Today we are announcing that we have agreed to acquire The Huffington Post, one of the most exciting, influential, and fastest growing properties on the Internet.  We believe in brands, quality journalism, and the positive role of communities in the world—The Huffington Post shares our values and the combination of the two companies will create the premier global and local media company on the Internet.

 Co-founded six years ago by Arianna Huffington and Ken Lerer, The Huffington Post has grown to become an industry leader—one of the Web’s most popular and innovative sources of online news, commentary, and information.  Arianna and team have created a brand and a destination that focuses on the consumer experience.  By combining The Huffington Post with AOL’s network of sites, thriving video offerings, local expertise and enormous reach, we will create a company that is laser-focused on serving our audiences across every platform imaginable – social, local, video, mobile and tablet. 

I’m thrilled to announce that Arianna Huffington will join AOL’s executive team as President and Editor in Chief of The Huffington Post Media Group."