02/08/2011 04:09 am ET Updated May 25, 2011

AOL CEO Tim Armstrong: 'The Next Phase Of The Internet Is About Content' (VIDEO)

"The next phase of the internet is about content," AOL CEO Tim Armstrong said on Monday's PBS NewsHour.

His company had just acquired The Huffington Post, and Arianna joined him on the show to discuss what it means for both companies.

"It's amazing to see the work, for example, that we can now do on the local space, the global space, around engagement, the women's space, and with original reporting," she said. "These were our highest priorities for 2011, now we can work on all of them all at once."

Arianna also reiterated one of her big themes of the week: that the left-and-right construct in journalism is "obsolete."

As for the business end of things, Armstrong focused on how the strengths of the two companies complimented each other. "Our motto right now is 'great content with great ads.' We see the internet needing to have a cleanup of how it looks and feels in the next progression of it. It hasn't changed much in the last 15 years. We've launched a number of different initiatives to clean up not just the content areas but also the advertising area."