AOL to buy Weblogs Inc.
A Reuters newswire article, via Yahoo! News, reports that:
America Online Inc. has agreed to buy Weblogs Inc., a network of Internet sites focused on niche topics ranging from food to gadgets, for around $25 million, a source familiar with the deal said on Wednesday.
AOL, a unit of Time Warner Inc., could announce the acquisition of New York-based Weblogs Inc. as early as Thursday, the source said.
A spokesman for America Online declined to comment. Executives for Weblogs were unavailable to comment. The personal blog of Weblogs founder and Chief Executive Jason Calacanis said he was flying from New York to a San Francisco Web conference on Wednesday evening.
Weblogs Inc. includes roughly 80 advertising-supported sites published by a group of more than 100 bloggers.
Examples include Autoblog, BloggingBaby and Engadget, Weblog Inc.'s most trafficked site, which is aimed at "rabid gadget freaks."
posted by Fergie @ 10/06/2005 05:38:00 AM
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