RUMOR: AOL Exploring Sale Of Engadget and TechCrunch
AOL is exploring the sale of technology websites Engadget and TechCrunch according to Sarah Lacy of PandoDaily.com. They are also considering selling off TUAW and Joystiq as a package along with those other two websites. The price they are seeking is around $70 to $100 million for all of the properties.
AOL has been considering this sale since early last year. Finding a buyer may take time so AOL is evaluating the sale over the next 6 months to a year. TechCrunch and Engadget’s brands have been strong, but both websites have lost a lot of their top talent over the last year. TechCrunch lost CEO Heather Harde, founder Michael Arrington, editor MG Siegler, and contributor Sarah Lacy. Engadget lost editors like Joshua Topolsky, Nilay Patel, Paul Miller, Ross Miller, Joanna Stern, etc.
Currently there isn’t any serious bidders, but several companies have expressed interest. Last year Michael Arrington and Heather Harde made an unsuccessful bid to buy back TechCrunch with Huffington no longer being part of the management of the website. But Arrington has lost interest in buying the company back and remains fully devoted to the CrunchFund venture capital company he is running:
“I don’t know anything. No one tells me anything. I am not in the least bit interested [in buying back TechCrunch]. I was Team Pando all the way until Sarah Lacy fired me. That does not change my position on TechCrunch.”