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Guardian News May Have to Sell PaidContent.org

The U.K. publisher of The Guardian and The Observer may be forced to sell assets to raise cash, including ContentNext, the U.S. web publisher of PaidContent.org. Guardian News and Media bought ContentNext last year for $30 million.

A potential buyer is WebMediaBrands, formerly JupiterMedia, which bought New York-based MediaBistro.com for $20 million in 2007. "I would certainly be interested in discussing it," says Alan Meckler, the company's CEO. "We have $25 million in the bank and virtually no debt. So we're looking for sites that media professionals read."

One Guardian insider says the integration of ContentNext into the Guardian web network has never really worked. It's been "a disaster," and "nobody can figure out why we needed it in the first place," says the source.

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