Rumor has it that Avid Life Media and two other prominent celebrity blogs have made an offer to buy out PerezHilton.com for $20 million. Avid Life also owns HotOrNot.com and AshleyMadison.com.
The other two bloggers involved in the deal include Zack Taylor (ZackTaylor.ca) and Nik Richie (TheDirty.com). A letter of intent has been sent to Perez and his attorneys this week. The offer would be $18 million up front and $2 million in escrow. However Zack Taylor and Nik Richie would operate the business after an acquisition. [Gawker]