Friday, March 11, 2011
Huffing and Puffing All The Way To The Bank...
Here is a small confession...I have never visited The Huffington Post let alone read anything reported therein. But Arianna must have done something right, because AOL has just paid this woman beaucoup bucks for her website.
The New York Times reports that in February 2011, AOL paid $300 million cash and $15 million in stocks to acquire said site. I don't know about you, but I can't even fathom that kind of money.
Recently I learned more about The Huffington Post (THP) through an article published by Vanity Fair detailing a lawsuit brought about by two men who claim to have been part of the original THP creation team. Arianna, of course, denies their participation in any fashion and according to Yahoo News called the Vanity Fair article "pointless." Back in forth in the courts it goes, who will win nobody knows.
If this wasn't enough controversy, The New York Times reported today that AOL is laying off 1,000 employees, approximately 20% of its workforce. Additionally, freelance writers will be utilized less as AOL begins depending more on in-house editors, so I guess I won't be winning my Pulitzer for work done with AOL. And I guess 1,000 more folks added to the unemployment ranks is a small sacrifice when scraping together $315,000,000. (Man, that's A LOT of zeros!)
However, AOL could have saved itself a lot of angst had it called me first. I would have sold them My World for half the amount paid for The Huffington Post. Then they could have kept all their employees, freelance writers, and still saved well over the $20M stated in the article as the amount to justify the lay-offs. Seriously, I could be bought...and I don't need as much. I could do very well with just a few million. And believe you me, there is no one dragging me to court trying to take credit for my work. I'm lucky I can get my brother and sister to claim me half the time.
So Yahoo and Google executives, when you read this (and you will read this) keep me and My World in mind. For Sale - Cheap.