LOS ANGELES, California (X17online) - AOL has acquired the Huffington Post for $315 million and plans to expand womens' content. Tim Armstrong, AOL's CEO, said he plans to work with the Huffington Post for years to come.

Armstrong released the following statement, "Arianna is someone we'd rather have inside our building" as opposed to outside.

Arianna Huffington said the following about the merger:

"I told Tim that I want to stay forever, that I want this to be my last act."

The Huffington Post was co-founded by Arianna Huffington back in 2005. The deal with AOL has reportedly been in the works for weeks.

As for the Huffington Post's revenue, analysts predict it will generate more than $50 million this year. The new AOL entity will be known as the Huffington Post Media.

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