David Kaplan examines the Huffington Post/AOL merger:
The $315 million AOL/Huffington Post merger could close next week, said CEO Tim Armstrong, seated next to his new partner Arianna Huffington and Staci D. Kramer, editor & EVP, ContentNext/paidContent in the closing session of the paidContent 2011. Armstrong began by talking about the many firsts they’ve shared: Huffington’s first Super Bowl game (with the acquisition announced that night, she barely saw one play) and her first video conference. The merger will create about $20 million in synergies, Armstrong said, and it will also lead to some layoffs. At the same time, there’s going to more high-profile hires, such as ex-Politco/current Yahoo (NSDQ: YHOO) News journalist Michael Calderone, Huffington said.
Armstrong and Huffington didn’t discuss the number of layoffs or where they would be coming from mostly. But Armstrong did express sensitivity about handling it, noting that he recalls how being laid off affected his family when his father lost his job.