Well this will possibly go down as the deal that changes the face of new media publisher market the world over. ContentNext Media the company which owns a network of new media blogs in Paidcontent.org, Moconews,.net Paidcontent.co.uk and also owns the India centric contentSutra.com has been reported to have been acquired for a huge 30 million $ by the British Newspaper and Media Group The Guardian.
AOL had bought Weblogs Inc in 25 Million dollars so this deal certainly ups that deal which was done in 2005. Though the fine print states that the valuation and the acquisition would be an earn out model i.e. price for buyout will depend on future performance of the company again similar to the terms of the Weblogs deal.
This is a feather in the cap of Rafat Ali who recently announced the exit of his editor Nikhil Pahwa who has started his own competing new media blog in Medianama.com. So contentSutra which reports on the Indian scene has been suffering offlate for the lack of an editor but this announcement should start attracting more and more people to join new media centric content companies as the future looks bright for those who join early and stay on.
Seems like there is a Big and happy future for WatBlog for sure
Thanks Resultrix!