PrometheusGM owns and operates influential media brands Adweek, The Hollywood Reporter and Billboard, as well as the Clio Awards and Film Expo Group. The purchase price is $8 million in cash.
In the deal, PrometheusGM also gets Mediabistro’s e-commerce assets, Ariens reported, as well as TVNewser and Mediabistro’s job board, among other things. Mediabistro alums include Brian Stelter, who wrote for TV Newser and now hosts “Reliable Sources” at CNN, and Patrick Gavin, who worked for FishbowlDC.
In 2007, Laurel Touby sold Mediabistro.com for $23 million, Angel Jennings reported in The New York Times.
The Jupitermedia Corporation, an Internet research company that also sells photos and art, agreed to pay $20 million in cash and an additional $3 million over two years for the company, which is based in New York City.
“This company is a true Internet success story,” Ms. Touby said. “This started as an offline community, a cocktail party, that turned into this Web site that actually makes money.”
(Jupitermedia later changed its name to WebMediaBrands.) Read more