Guardian Media Group (GMG) has acquired contentNext, the parent firm of digital media news blog paidContent. While terms of the deal have not been disclosed, the Wall Street Journal-owned All Things Digital blog claims the deal was closed for upwards of USD30m. Under the deal, contentNext will continue to operate as a stand alone business.
The deal was completed by Guardian News and Media (GNM), the national division of UK-based GMG and publisher of the Guardian and Observer newspapers. The move is an attempt by GNM to expand into the US and follows the October launch of US website GuardianAmerica.com. “We were planning another round of funding and were not out shopping the company but when Guardian approached us, all the pegs fit into the right holes,” says contentNext founder and editor Rafat Ali.
contentNext was set up in 2002 and will continue to be run by Ali and CEO Nathan Richardson. The firm – which raised an undisclosed amount of funding from Greycroft Partners in 2006 – also runs mocoNews.net, contetSutra and paidContent:UK. These sister sites offer news on mobile content, the Indian digital content market, and UK and European digital media markets respectively.
As well as its newspaper assets, GMG owns property website ThinkProperty.com, UK car magazine Auto Trader and its online online properties, as well as the Smooth and Real Radio networks.
The contentNext deal follows Conde Nast’s acquisition of Ars Technica for an estimated USD25m in May.