AOL to buy Huffington Post

Media giant AOL said today that it had agreed to buy US internet newspaper The Huffington Post for $315m (€231m) in a bold bet on the future of online news.

The deal – which will see its two co-founders, Arianna Huffington and Kenneth Lerer, net the lion’s share of the windfall – comes at a time when news groups are still struggling to turn online news into a viable business.