This has been in the works for a long, long time now...and finally the online and print sides of the eponymous Wired brand unite, after an eight-year separation. And yes, believe it or not, Conde Nast has done its first online acquisition, for as long back as I can remember.
Anyway, details: Lycos U.S., which is now owned by Korean portal firm Daum, has sold Wired News website to Conde Nast; CN already owns the print magazine. The sale price: $25 million.
Wired News website has been going through some tough times, as did the parent Lycos U.S....the site had laid off journalists last year, and now has eight staffers (via Dan Farber) and is housed in the same office as the magazine in San Francisco. No layoffs at Wired News are planned as a result of the deal.
Wired’s own report: The history: Lycos acquired Wired News as part of its June 1999 acquisition of Wired Digital in a stock transaction valued at about $83 million at the time. Since then, Wired News has published Wired magazine articles on the web under a contractual relationship, while reporting independently on its own. This deal includes all the assets of Wired News, such as the website, news content and domain name, but leaves Lycos in control of former Wired Digital properties such as HotBot, Hotwired and Webmonkey.
For Lycos, the sale represents the latest effort to streamline and reposition following a $95 million December 2004 buyout by Daum. It sold Quote.com for $30 million to financial data provider Interactive Data Corporation. Lycos is now focusing on developing broadband TV and community content services, latest among umpteen attempts to revive itself.
And this is funny: ”Best Day Ever: Chris Anderson”: Chris’ book launched today as well, and now this.
Related:
-- Lycos U.S. Sells Quote.com to IDC For $30 Million Cash; Wired News Next?
-- Layoffs At Wired News
-- Lycos Sale To Daum Finalized
More to come…