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One Year Later, AOL Merger with HuffPo a Financial Failure
According to the New York Post, the merger of AOL and the Huffington Post, which is approaching its one-year anniversary next week, has been an utter disaster — for AOL.
One year after getting into bed with the media princess and plunking down $135 million to buy the Huffington Post, the AOL boss has seen traffic on his Web site fall to where the ubiquitous e-mail voice should be saying, “You Got Nailed.”
Nailed indeed. According to the Post, citing Nielsen, web traffic is down at AOL from 78.9 million unique visitors per month to 73.6 million.
Even worse, though, is the stock price. At the time of the merger AOL’s stock was trading at $21.19 per share for a market value of approximately $2.1 billion. On Friday the stock closed at $16.07, or 24% lower, which translates to a loss of over $500 million in market value.
The only positive development, if you can call it that, is that the stock price has recovered from its post-merger low reached in September when it was off nearly 47% from the day the merger was completed.
AOL thought they had latched onto a winning growth strategy by acquiring HuffPo, as it is more commonly known, but instead wound up not only taking a back seat to their acquisition, but taking a huge financial hit in the markets as well.
Score this one as a big victory for Arianna Huffington and a black eye for AOL.
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About the author
Don Irvine is Chairman of Accuracy in Media. He is active on Facebook and Twitter. You can follow him @donirvine to read his latest thoughts.
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4 Comments for One Year Later, AOL Merger with HuffPo a Financial Failure
Duh, and it’s a surprise that that would happen? Fools!
But were they really that foolish or did they manipulate it some way for the Elite to make GIANT bonuses before the bankruptcy, which seems to be the usual tactic.
Arianna huffington is a HIGH PRICED CALL GIRL. She marries a GAY guy to get half his fortune and brags about it. She should have spent time in jail with the other hookers. Serves AOL right for doing business with a HO.
Well, what did you expect? You team up with a radical left-wing extremist rag of a news source and you expect people to want to go there for news, knowing that it cannot be trusted, and that it comes with not just a liberal, but a socialist bias? Just because you at AOL have fallen for the liberal kool-aid, doesn’t mean everyone else has. Your messiah, Obama, and his corrupt liberal administration should have shown you crystal clearly that your liberal politics don’t work. They don’t now, they never have, and they never will. People are sick of this garbage, and they are leaving biased liberal media in droves. Hope you lost A LOT of money.
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