CNN has sold personalized news aggregator Zite to Flipboard for $60 million, CNN Money reports. Flipboard will also offer custom magazines for some CNN shows as part of the deal.
Zite — whose algorithm always manages to surface customized content that I don't come across anywhere else — was previously acquired by CNN in 2011. In December, AllThingsD reported that a new round of funding valued Flipboard — with its 100 million active users — at $800 million.
The consolidation by two of the largest news readers comes as major players like Google, Facebook and Yahoo have moved to compete in the space. (more...)