Leslie Walker of Biz Report says “traditional media companies have been making some startling moves” referring to the sale of web properties.


Leslie Walker of Biz Report discusses a number of deals made this year by traditional media companies who have bought Web properties. “While Internet ads claim a small slice of the overall ad pie, generating not quite $10 billion in the United States last year, less than 5 percent of all ad revenue, the online dollars grew more than 30 percent, much faster than off line. In response, traditional media companies have been making some startling moves”.

He refers to the purchase of About.com for $410 million by The New York Times Co. and News Corp.’s purchase of MySpace.com for $580 million. Three newspaper chains jointly paid $64 million for a stake in online news aggregator Topix.net. Dow Jones & Co. bought financial site MarketWatch.com for more than $520 million. The Washington Post Co. picked up online magazine Slate for an undisclosed sum.

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