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Media News - Monday, July 14, 2008

Guardian Media buys paidContent.org publisher

The Guardian News & Media has acquired ContentNext, publisher of media and technology business blog paidContent.org, a sign of the growing importance of such sites to traditional media companies. ContentNext's founder and editor, Rafat Ali, and Chief Executive Nathan Richardson would continue to run the company as a stand-alone business, said the privately held Guardian, which publishes the Guardian and Observer newspapers in Britain and the Guardian America website. The Guardian paid about USD 30m (EUR 18.8m), a source familiar with the situation said. ContentNext, which is based in Santa Monica and New York City, delivers news and analysis to executives in the media, entertainment and technology sectors. It was founded in 2002. It owns paidContent.org, which covers digital content; mocoNews.net, which covers mobile content; paidContent:UK, which focuses on the UK and Europe; and contentSutra.com, which covers India's digital content market. (Reuters)

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