Patch Parent Company Acquires The Huffington Post

The parent company of Patch.com announced Monday it has acquired The Huffington Post, an influential news, analysis and lifestyle website that has a growing presence online.

AOL, which owns Patch as well as Engadget, TechCrucnh, Moviefone and MapQuest among other companies, said transaction will create a premier global, national, local, and hyper-local content group for the digital age – leveraged across online, mobile, tablet, and video platforms.

Founded in 2005, The Huffington Post has 25 million unique monthly visitors and the new group combined will have abase of 117 million unique visitors a month.

“The combination of AOL's infrastructure and scale with The Huffington Post's pioneering approach to news and innovative community building among a broad and sophisticated audience will mark a seminal moment in the evolution of digital journalism and online engagement,” AOL officials said in a press release.

As part of the transaction, Arianna Huffington, The Huffington Post's Co-founder and Editor-in-Chief, will be named President and Editor-in-Chief of The Huffington Post Media Group.

"The acquisition of The Huffington Post will create a next-generation American media company with global reach that combines content, community, and social experiences for consumers," said Tim Armstrong, Chairman and CEO of AOL. "Together, our companies will embrace the digital future and become a digital destination that delivers unmatched experiences for both consumers and advertisers."

Armstrong went on to say Huffington is a “singularly passionate and dedicated chamption of innovative journalistic engagement,” noting her use of new media to “illuminate entertain and enhance the national conversation.”

"This is truly a merger of visions and a perfect fit for us," said Huffington. "The Huffington Post will continue on the same path we have been on for the last six years – though now at light speed – by combining with AOL. Our readers will still be able to come to the Huffington Post at the same URL, and find all the same content they've grown to love, plus a lot more – more local, more tech, more entertainment, more finance, and lots more video. We are fusing a legendary and powerful new media brand with a vibrant, innovative news organization, known for its distinctive voice, a highly engaged audience, an expertise in community-building, and a track record for demystifying the news and putting flesh and blood on the data while drawing our audience into the conversation."