Simplify the following text for a Grade 9 native English-speaking person.
Original: On February 7 , 2011 , AOL acquired The Huffington Post for US$ 315 million making Arianna Huffington editor-in-chief of The Huffington Post Media Group .
Simplified: The Huffington Post is an American news website founded in 2005 . On February 7 , 2011 , AOL announced it would acquire The Huffington Post for US$ 315 million .