Four years later, Mr. Pittman could find some redemption in his latest business move. He stands to earn a potential windfall from a small Web business, called Daily Candy, that he has just put on the auction block. Mr. Pittman bought a controlling stake in the site for about $3.5 million in 2003. With traditional and electronic publishers keen to get their hands on Internet-advertising properties, Daily Candy could fetch more than $100 million, people familiar with the matter say."
Wednesday, February 15, 2006
WSJ.com - Former AOL Official Pittman Puts Web Firm Daily Candy Up for Sale
"As a fall guy for the disastrous merger between America Online and Time Warner Inc., Robert Pittman faded into obscurity after resigning from the company in 2002.
Four years later, Mr. Pittman could find some redemption in his latest business move. He stands to earn a potential windfall from a small Web business, called Daily Candy, that he has just put on the auction block. Mr. Pittman bought a controlling stake in the site for about $3.5 million in 2003. With traditional and electronic publishers keen to get their hands on Internet-advertising properties, Daily Candy could fetch more than $100 million, people familiar with the matter say."
Four years later, Mr. Pittman could find some redemption in his latest business move. He stands to earn a potential windfall from a small Web business, called Daily Candy, that he has just put on the auction block. Mr. Pittman bought a controlling stake in the site for about $3.5 million in 2003. With traditional and electronic publishers keen to get their hands on Internet-advertising properties, Daily Candy could fetch more than $100 million, people familiar with the matter say."
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