Aol has bought Huffington Post for $315 million

AllthingsD is reporting that our parent company Aol has bought Huffington Post for $315 million, this afternoon.

“Armstrong made the official offer to Huffington by phone in January, while she was at the World Economic Forum in Davos, Switzerland and he was snowed in in New York.

Five time multiple to the Huffington Post’s $65 million in expected revenue for the coming year, the offer was accepted quickly.”

According to the post Huffington will be in charge of all Aol properties, including Engadget, Urlesque and TechCrunch. I think New York Times should watch it back at this point.