Huffington post sold for $315 million after having investors kick in $36 million and none of the 4000 people who write for it get paid?
That’s 351 million not counting any revenue that the site has generated. If you paid the 4000 folks in question 10k each for the time they put in over 5 years that still leaves 311 million. Subtract the investor money of 36 mil and you have 250 mill subtract say half for taxes and you have 125 mil and say another 25 mil for expenses and Arianna still pockets 20 mil a year over five years plus the revenue generated.
Yet the 4,000 got not a cent. The 40 mil that would be necessary to give them a piece of the pie is not to be. So all of you on the left who provided free content so Arianna could cash out big time now get to do the same thing so AOL can cash out big time. Is that what you signed on for?
Hey its a free country if you guys want to put out all that work so Huffington can get richer that’s totally up to you, but this is one version of Money for nothing that hasn’t been banned.
Then again if you look at Hotair it’s not about the money, it’s about the re-election:
Arianna Huffington, who got $315 million in a sale of Huffington Post to AOL as well as complete control of AOL’s content. She has plans for that power, Sargent reports at the Washington Post. She hopes to turn AOL into a center of “citizen journalism” in advance of the 2012 elections:
Or to put it another way, not only did Arianna get a big payday, but by using it to re-elect The One™ she and her friends are counting on, if successful a great payback on the back of the American Taxpayer for every liberal cause out there. And that payout won’t be millions, it will be billions!
Update; Irony thy name is AOL via glenn AOL stock values falls $315 million since feb 1st