Tuesday, August 05, 2008

Report: Comcast Acquires DailyCandy for $125M - WoW

" Comcast clearly has some deep pockets.
When they're not hiring lawyers to do battle with the FCC over network management issues, the company is apparently looking to invest in newsletter businesses.
The cable provider announced Tuesday that it had beat out media conglomerate Viacom in a bid to buy DailyCandy. The final check came out to a whopping $125 million.
When rumors of Comcast's interest in the company surfaced several months ago, bids were valued at around $75 million, according to Silicon Valley Insider.
DailyCandy was founded in 2000 as a New York-based daily newletter. It has since expanded to a number of major American cities, including Boston, Chicago, Dallas, Miami, Los Angeles, Philadelphia, and San Francisco. In 2006, the company went international by adding London to the list."

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