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Guardian Paid Pittance For PaidContent

Here's a story you won't see on paidContent. The UK's Press Gazette is reporting that Guardian News and Media paid about $6.5 million for the U.S.-based industry blog back in 2008 -- "rather than the £15m ($30m) which has previously been reported."

The Press Gazette adds that it "understands that the higher figure, which was widely quoted at the time, was dependent on the highest possible future performance figures for the blog-based media business news site." The Guardian apparently maintains that paidContent parent ContentNext Media is "a good strategic fit to the business," but that the "carrying value" has been "impaired following difficult trading conditions."

Read the whole story at Press Gazette (UK) »

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