( CNN ) -- AOL has agreed to purchase The Huffington Post for $ 315 million , the two entities announced in a joint news release Monday . Statement : Arianna Huffington will be named president of The Huffington Post Media Group . She is the first female to hold that position at a major media company and she has been with HuffPo since its inception in 2004. The group is expected to have a combined 270 million unique visitors worldwide .
Statement : Arianna Huffington will be named president of The Huffington Post Media Group . She is the first female to hold that position at a major media company and she has been with HuffPo since its inception in 2004. The group is expected to have a combined 270 million unique visitors worldwide .