Federal officials do not intend to challenge AOL Inc.'s plans to buy online news hub Huffington Post, after concluding that the deal does not raise significant antitrust concerns.
The $315 million acquisition, announced last month, is part of America Online's attempt to rebuild itself as its legacy dial-up Internet business fades away. The Federal Trade Commission disclosed Tuesday that regulators at the FTC and Justice Department don't plan to block the purchase. It is expected to close later this year.
The deal will give AOL control of one of the top 10 current events and global news sites. Huffington Post has 25 million U.S. visitors each month. Co-founder Arianna Huffington will run AOL's expanding online media operations, which include popular technology sites Engadget and TechCrunch, local news site Patch.com and online mapping service MapQuest.