Guardian News & Media (GNM) has confirmed the sale of ContentNext Media, publisher of paidContent, to US business and technology media company GigaOM.
GigaOM has also acquired ContentNext Media’s other assets including mocoNews, contentSutra and paidContent:UK.
In a statement GNM chief executive said:
paidContent has a fantastic presence in the tech/media space and the match with GigaOM, itself a really smart and pioneering company, is a good one. We are delighted to become shareholders in GigaOM as part of the deal.
The Guardian’s focus in the US is on building guardiannews.com, but we look forward to seeing paidContent thrive and grow in its new home and wish its staff all the very best for the future.
GigaOM CEO Paul Walborsky said:
With our shared commitment to journalistic ethics, GigaOM and paidContent are a natural fit,’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.
GNM paid £4m for ContentNext Media in 2008.
The terms of the latest deal have yet to be disclosed.
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