Guardian Media Group to Buy paidContent For Over $30 Million
Posted on July 11, 2008Kara Swisher is reporting that the Guardian Media Group is going to buy the popular paidContent blog published by Rafat Ali for over $30 million.
paidContent consists of four different blogs. No one seems to have traffic specifics but paidContent was one of the most widely read blogs covering digital media. The Guardian has more details about the breaking content deal here.In what will be seen as a new media coup, sources tell BoomTown that Britain's Guardian Media Group is set to announce this morning that it will buy the company that runs the high-profile digital media news site paidContent for a price "north of $30 million."
That price, though, includes an earn-out, sources said, which will depend on future performance of the company.
The paidContent site is owned by ContentNext and was founded by Publisher and Editor Rafat Ali in 2002.
With the motto, "The Economics of Content," paidContent has been a pioneer in the online news space, doing high-quality reporting about online media and digital efforts by big media companies.