Back in November I wrote about how Guardian Media Group was attempting to sell off paidContent. paidContent is a tech blog that is run by a company called contentNext. Guardian Media Group acquired contentNext in July 2008 for approximately $30 million including earn-outs. It was rumored that contentNext did not meet the earn-out requirements for the full price and Guardian did not know how to efficiently manage the brand. Today GigaOM has announced that they have acquired paidContent and the other contentNext properties for an undisclosed sum.
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United Kingdom based Guardian Media Group is selling off ContentNext, a New York based technology media news blog network that was acquired three years ago. ContentNext was founded by Rafat Ali and is best known as being the parent company of the paidContent.org technology blog. Guardian hired boutique bank Coady Diemar Partners to help them sell off ContentNext.
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You know what keeps bloggers like me writing? Seeing other blogging companies succeed. Rafat Ali of paidContent writes like a madman everyday to give us the news that we like to read. And today his efforts have payed off. Guardian Media has acquired his company, ContentNext for over $30 million.
Through the acquisition, Guardian Media will have ownership of the following websites:
The acquisition will be an earn-out assuming that the websites maintain certain performance.
paidContent started in 2002 and they have offices in Santa Monica, Calif. and Manhattan. Greycroft Partners invested an undisclosed amount in paidContent in 2006. ContentNext is known for hosting several conferences.
ContentNext Media will operate independently under Guardian News & Media.
“I have admired paidContent for years. Rafat and his team personify the values of editorial independence and integrity that are core to the Guardian. I’m very happy to welcome the company into the expanding Guardian Media Group,” stated Carolyn McCall, CEO of Guardian Media Group.