PaidContent has been acquired by GigaOm, which purchased all assets of ContentNext Media from Guardian News & Media Ltd. Financial details of the deal were not disclosed, but it does give Guardian News & Media a minority share in GigaOm, joining existing investors such as Reed Elsevier Ventures, Alloy Ventures and True Ventures.
ContentNext Media includes paidContent.org, mocoNews.net, contentSutra.com and paidContent:UK. GigaOm said it will retain the company’s editorial and business staff.
“With our shared commitment to journalistic ethics, GigaOM and paidContent are a natural fit,” said Paul Walborsky, CEO of GigaOm. “PaidContent is the leading voice covering the evolution of media, an area that is very important to us. Integrating our teams will enrich our editorial coverage and expand our footprint immediately in two markets that are critical to our growth – New York City and the UK.”
Andrew Miller, CEO of Guardian Media Group said the match between the two companies was a good one, and that his company was pleased to become shareholders in GigaOm
Founded in 2006, GigaOm has more than 4.5 million monthly unique visitors in addition to businesses that include events, market research and other services.
As of January 31, 2012, ContentNext Media has about 726,000 unique monthly visitors and had hosted 17 paid events.
Related links:
Press release – http://www.guardian.co.uk/gnm-press-office/gigaom-acquires-paidcontent
Photo by Flickr user MIKI Yoshihito, used under Creative Commons license
