Tuesday, 22 November 2011

Guardian puts paidContent publisher up for sale

PaidContent:UK is reporting that Guardian News & Media is in talks with potential buyers about a possible sale of ContentNext Media, publisher of paidContent and several other sites.

GNM acquired ContentNext, which was founded by Rafat Ali and has covered the digital media business since 2002, for an undisclosed sum in July 2008 in a deal which was meant to help the Guardian's ambitions to expand in the US.

The Guardian is now concentrating on developing its online presence in the US with its own dedicated staff in New York.

PaidContent reports that GNM’s international and business development director Stella Beaumont told staff: “ContentNext has strong brands, great people and an excellent reputation, but GNM’s focus in the U.S. is on building the Guardian.

“We have received expressions of interest in the company, but the sale process is still in the early stages. We are talking to a select number of potential buyers.”

The company is working with the bankers Coady Diemar Partners on the possible sale.

ContentNext has three active sites— paidContent.org, mocoNews.net and paidContent:UK.co.uk—as well as a fourth site, contentSutra.com.

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