AOL is buying the Huffington Post for $315 million. Under the deal, AOL CEO Tim Armstrong will make HuffPo founder Arianna Huffington editor of all AOL content properties, including popular blogs like
. HuffPo is expected to generate about $50 million this year, less than one-sixth of the acquisition price. For AOL, which built its business on customers paying for e-mail and Internet access, the deal brings a much-needed infusion of content, along with Huffington Post’s 25 million monthly unique visitors.