Fandom, a San Francisco-based on-line writer of leisure and know-how guides, has acquired a number of advertising blogs operated by Purple Ventures, in accordance with a report.
The deal, first reported by the Wall Street Journal on Monday, is valued round $55 million and contains TV Information, Twine Cutters Information, Comedian Vine, GameSpot and different web sites.
The acquisition value is round 10 p.c of what Purple Ventures paid to amass TV Information and GameSpot as a part of a much bigger buy of CNET Media Group from Paramount Global two years ago, however it’s considerably greater than what Purple Ventures paid for Twine Cutters Information across the identical time.
In June, The Desk reported Purple Ventures was within the technique of winding down Twine Cutters Information as an editorial web site as a part of a strategic shift that noticed vital consolidation throughout its net properties. The report stated Twine Cutters Information would stay on-line, however that the general day-to-day editorial operation would shift to TV Information.
Because the report, Twine Cutters Information has revealed the occasional press launch and month-to-month title launch for a handful of streaming providers, however the majority of Purple Ventures’ streaming protection has been revealed on the TV Information web site.
It isn’t clear how Fandom intends to function each providers. Whereas TV Information publishes editorial content material, Twine Cutters Information largely exists as a advertising weblog the place written content material is used to persuade customers to purchase a streaming service, for which the web site receives a fee.
Fandom was initially often called Wikia and counts Wikipedia president Jimmy Wales amongst its high executives. Like Purple Ventures, the corporate primarily generates income by promoting and affiliate marketing online.
The acquisition will enable Fandom to spice up its output of leisure and technology-related protection, whereas giving Purple Ventures the chance to concentrate on its key areas of finance, well being and home-related services and products.
It was not instantly clear if the acquisition will end in layoffs, although pink slips are typical when one massive firm buys the property of one other.