Feds won't block AOL purchase of Huffington Post
Federal officials do not intend to challenge AOL Inc.'s plans to buy online news hub Huffington Post, after concluding that the deal does not raise significant antitrust concerns.
The $315 million acquisition is part of America Online's attempt to rebuild itself as its legacy dial-up Internet business fades away. The Federal Trade Commission said Tuesday that it doesn't plan to block a deal the companies announced last month that will give AOL control of one of the top 10 global news sites.
Huffington Post has 25 million U.S. visitors each month. Its co-founder Arianna Huffington will run AOL's expanding online media operations. Those include popular technology sites Engadget and TechCrunch, local news site Patch.com and online mapping service MapQuest.
The deal is expected to close later this year.