Huffington Post Acquires Comedy News Site From IAC

This story was written by David Kaplan.
Huffington Post is wasting little time in putting last month's $25 million funding to work: as expected, the company says its buying comedy news site The comedy site was created in Nov. 2007 as part of a joint venture between Huffington Post and IAC (NSDQ: IACI). Now, after a year as a standalone, will be integrated into Huffington Post as a vertical channel.

The purchase represents Huffington Post's recognition that it needs to expand its offerings beyond straight commentary, now that the presidential campaign is over and traffic and advertising are expected to fall off. claims roughly 2 million unique users a month, which is a drop compared to HuffPo's 16 million monthly uniques.

The sell-off of comes after IAC dissolved its programming group last month as part of its post-spinoff reorg. In addition to, IAC's programming group managed "content-based" sites such as; Very Short List (VSL);; and Tina Brown's recently launched Daily Beast. At the time, our Staci D. Kramer predicted that HuffPo would own entirely.

By David Kaplan