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.
Recent moves include:
In November, Google launched Google Play Newsstand, a default app for Android devices that allows publishers to provide content behind a paywall. (Since 2012, New York Times subscribers have been able to access content through the Flipboard app.)
In January, Yahoo released Yahoo News Digest, which provides twice-daily, one-size-fits-all roundups of the day's biggest stories.
In February, Facebook debuted Paper, which aggregates top shared stories across a number of categories.
Other news sites in the Top 10 include AOL's sites, which include The Huffington Post and TechCrunch, as well as those belonging to CBS Interactive and Turner Digital. The New York Times' sites are No. 33 on the list.
BuzzFeed | All Things D
BuzzFeed will construct a "social video studio" in Los Angeles, the company announced Tuesday. The facility will include a "coffee shop and store where influencers, thinkers and celebrities will be able create informal videos made for the social web. The team will grow to over 30 people in the coming months."
The content will be exclusive to YouTube. BuzzFeed also announced a partnership that gives the Web news organization access to CNN's video archives so it can "create unique mash-up news videos" and lists. That content will appear on CNN.com as well as on "CNNBuzzFeed," a new YouTube channel. Here's a first, rather treacly video:
• YAHOO WILL BUY TUMBLR "Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business," a Yahoo announcement this morning says. The acquisition cost Yahoo $1.1 billion, "substantially all of which is payable in cash."
Any such deal "could certainly bring Yahoo a big, young audience," they write.
[Tumblr's] worldwide traffic was at 117 million visitors in April, according to comScore. On its home page, Tumblr claims it has 107.8 million blogs and 50.6 billion posts. U.S. desktop traffic to Tumblr was 37 million in April, close to LinkedIn and Twitter, although Twitter obviously has much more via mobile.
There’s plenty of adult supervision at his company: Summly’s chairman, we learn on the company’s corporate Web site, has been in the Internet racket at least 15 years, including a stint at Amazon. Its CTO and head of R&D are similarly long-toothed with experience, as are other members of its executive team.