But its true. Here be the proof:
WASHINGTON/NEW YORK (Reuters) – AOL Inc will buy Arianna Huffington's influential website for $315 million, looking to the high-profile liberal pundit to rescue it from the dustbin of Internet history.
The move, announced Monday, comes at a hefty premium. AOL is estimated to be paying 32 times earnings before interest, taxes, depreciation and amortization for The Huffington Post, said Benchmark Co analyst Clayton Moran.
This, in a nutshell, is why I am a supporter of free markets over government. It isn't that management of private industry is more moral, more intelligent, more diligent or more effective than government. Its just that when they screw up, bad things happen to them.