Wired Magazine Buying Wired.com for $25M Associated Press 07.12.2006, 01:01 PM
http://www.forbes.com/home/feeds/ap/2006/07/12/ap2874442.html The publisher of Wired magazine is paying $25 million for the Web site and online news service bearing the same name, reuniting Wired's print and digital operations for the first time since 1998. Advance Publications Inc.'s Conde Nast Publications Inc., which also publishes Vanity Fair, the New Yorker and other titles, is acquiring the Wired.com site and Wired News from Web portal Lycos Inc. Although Wired.com features articles from the magazine as well, Conde Nast has been limited in what it could do. In a statement Tuesday, Wired magazine's editor in chief, Chris Anderson, said the reunion will mean "innovation and experimentation with new ways of doing media online." The acquisition also allows Conde Nast to take advantage of an industrywide boom in online advertising. Wired magazine's circulation has grown slightly to 607,271 last year from 589,060 in 2004. The Publishers Information Bureau reports a 12 percent growth in advertising pages for the first half of this year - 509, compared with 454 in the same period last year. Wired magazine, which has chronicled cultural and other trends with technology since its founding in 1993, had suffered for two years after an unsuccessful initial public offering in 1996 followed by rounds of layoffs. Conde Nast bought the magazine in 1998 for about $75 million. A year later, Lycos bought Wired.com and Wired News along with sister sites Hotbot, Hotwired and Webmonkey for $83 million in stock. Those other sites will remain with Lycos, a unit of Korean online portal Daum Communications Corp. ================================ George Antunes, Political Science Dept University of Houston; Houston, TX 77204 Voice: 713-743-3923 Fax: 713-743-3927 antunes at uh dot edu Reply with a "Thank you" if you liked this post. _____________________________ MEDIANEWS mailing list [email protected] To unsubscribe send an email to: [EMAIL PROTECTED]
