In a bold and definitive move, AOL is paying $315 million, mostly in cash, to buy The Huffington Post, one of the Web’s most prominent news and opinion sites. As part of the deal, Huffington Post co-founder Arianna Huffington — who was derided by some when she co-founded the left-leaning site in 2005 with investor and well-known communications executive Kenneth Lerer — will become president and editor-in-chief of The Huffington Post Media Group within AOL. AdAge: The deal is AOL CEO Tim Armstrong’s latest and boldest attempt to transform the declining company from one that helped millions of people get onto the Internet through dial-up connections to one that informs and entertains them in a broadband world, or as he called it, a “new American media company.” Mashable: The company that brought dial-up Internet to millions of people is dead. In its place is a massive media empire that refuses to be ignored. ReadWriteWeb: This is an incredibly bold move and a big bet of AOL’s remaining revenue streams on the future of content on the Web. It’s hard to imagine a better bet in that direction. Huffington has demonstrated a clear ability to win at the bulk and low-cost content game. GigaOM: My first reaction: Wow! I had called for HuffPo being acquired by MSNBC before the end of 2011. But then those are the perils of the prediction game. AllThingsD / BoomTown: Here’s an exclusive video interview BoomTown did with Arianna Huffington and AOL CEO Tim Armstrong Sunday morning at Super Bowl XLV in Arlington, Texas. HuffPost: Arianna Huffington: When Kenny Lerer and I launched The Huffington Post on May 9, 2005, we would have been hard-pressed to imagine this moment. The Huffington Post has already been growing at a prodigious rate. But my New Year’s resolution for 2011 was to take HuffPost to the next level — not just incrementally, but exponentially. With the help of our CEO, Eric Hippeau, and our president and head of sales, Greg Coleman, we’d been able to make the site profitable. Now was the time to take leaps. TechCrunch: Armstrong: The Huffington Post is core to our strategy and our 80:80:80 focus — 80 percent of domestic spending is done by women, 80 percent of commerce happens locally, and 80 percent of considered purchases are driven by influencers. The influencer part of the strategy is important and will be potent.