Internet company AOL Inc. is buying news hub Huffington Post in a $315 million deal that represents a bold bet on the future of online news, AOL News reports.
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AOL, once the king of dial-up Internet access known for its ubiquitous CDs and "You've got mail" greeting in its inboxes, is in the midst of a turnaround effort as it tries to find ways to boost online ad sales to offset declines in the access business. The acquisition announced early Monday is among the most aggressive strategic moves engineered by AOL CEO Tim Armstrong in an effort to reshape a fallen Internet icon.
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