AOL will pay $300 million US of the purchase price in cash. Huffington will be named president and editor-in-chief of The Huffington Post Media Group, which will include all Huffington Post and AOL content, including Engadget, TechCrunch, MapQuest, Patch and more. Since laying off a large number of staff last year, AOL has continued reorganizing its operations. The company, which separated from Time Warner in 2009, has acquired new businesses, launched and relaunched websites, and rolled out a new web advertising system. AOL CEO Tim Armstrong said last week he sees 2011 as a "comeback year" for the internet company as it continues its turnaround efforts and starts expanding its ad business in the second half of the year. The company's fourth-quarter results show it is still struggling to boost ad sales. AOL had just a 5.3 per cent share of the U.S. display advertising revenue in 2010, down from 6.8 per cent in 2009, according to eMarketer.