Prominent Silicon Valley blog GigaOm said Wednesday it has acquired the assets from ContentNext Media, parent company of media-focused blog paidContent, from publisher Guardian News & Media. Financial terms were not disclosed.
“With our shared commitment to journalistic ethics, GigaOM and paidContent are a natural fit,” said Paul Walborsky, CEO of GigaOM, in a statement. “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."
Besides paidContent.org, the other ContentNext assets acquired include mocoNews.net, contentSutra.com and paidContent:UK. Through the acquisition, GigaOm will add 15 employees to its total of 40.
In connection with the move, Guardian News & Media will retain a minority share in GigaOM, joining existing investors such as Reed Elsevier Ventures, Alloy Ventures and True Ventures. The AllThingsD blog had reported recently that GigaOm and Guardian were close to reaching a deal.