Guardian Media Group to Buy paidContent For Over $30 MillionKara 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 blogs - all listed here in a post by VentureBeat. No one seems to have traffic specifics but paidContent was one of the most widely read blogs covering digital media. You can more about the deal at GigaOm, ReadWriteWeb and TechMeme. The official press release can be found here on paidContent. The Guardian also has the story 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.
Posted on July 11, 2008