In the year 2009, AOL had become an independent Company. It has now acquired The Huffington Post for $315 million, which is believed to be its biggest move since then.

And this new procurement is likely to give rise to a new online media Company which is already said to own news websites like TechCrunch and Engadget. The New York Times has quoted that the deal would be worth $300 million in cash with $15 million in stock.

The Huffington Post co-founder Arianna Huffington would now be appointed as the President, Editor-in-chief of all of AOL’s content. This would be done as a part of the deal.

Besides running the, The Huffington Post he would also be leading the AOL’s news, tech, women, local, multicultural, entertainment video and community content businesses in an AOL entity which would be named as the Huffington Post Media Group.

Chief Revenue Officer Greg Coleman would be leaving The Huffington post. And, The Huffington Post Media Group will also be in charge of MapQuest, AOL Music, AutoBlog, Patch, Engadget and TechCrunch. Huffington Post CEO, Eric Hippeau.

“By combining HuffPost with AOL’s network of sites, thriving video initiative, local focus, and international reach, we know we’ll be creating a company that can have an enormous impact, reaching a global audience on every imaginable platform”, Arianna Huffington said.