Daily Candy Off Sale Block; Sells Stake; Valuation $130 Million: WSJ
By Rafat Ali - Mon 10 Jul 2006 12:08 AM PST
So says a WSJ report, which first reported on $100 million asking sale price: culture site/newsletter Daily Candy has pulled itself off the auction block, and instead secured a minority investment that values the business at about $130 million, the story says. The site is owned by an investment group led by Bob Pittman.
Some potential buyers--WSJ story says the potential buyers included NYT, Hearst and others--were concerned about the viability of its margins as the company continues to expand.
Related:
-- The DailyCandy Valuation-Inflation Gang
-- Daily Candy Goes On Auction Block; $100 Million Or So Tossed Around As Price
