The Smoking Gun found an AOL “Attorney’s Eyes Only” memo that reveals Huffington Post founder Arianna Huffington, who sold her site to AOL in 2011, received less than seven percent of the sale price of $315 million.
Media reporters guessed two years ago that she had received about $100 million, but the newly surfaced memo says it was around $21 million — probably less than what was earned by several of HuffPo’s financial backers.
“The deal document stresses Huffington’s critical importance to the web site, noting that her departure ‘could have a significant detrimental effect on the Company’s business,’” reports The Smoking Gun.
ALSO IN AOL-LAND… Many editors at AOL’s Patch are saying goodbye to readers today. Here’s a batch of farewells found via Google.