The Era Of Pretend Internet Money Is Back - AOL Buys Huffington Post for $315 Million

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The last time AOL made big news is when its CEO, Steve Case, managed to use its pretend Internet money to buy a real company, Time-Warner, and pull a fast one on basically the world.

Now Huffington Post has learned that game, managing to get a whopping $315 million out of AOL for its blog site. If you're wondering how that valuation happened, it doesn't matter, $300 million of it is in cash.

Congratulations, HuffPo. We're going to be on the phone with Prodigy in the next few minutes and see if we can get a little something also.

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