HuffPo Investment Places Value Above Some Newspapers
By Don | December 2, 2008
The Huffington Post just received a $25 million investment valuing the company at $100 million which is higher than several newspaper companies around the country.
From AdAge.
As long-rumored, The Huffington Post took $25 million in new funding at a $100 million valuation. It’s a healthy sum given the company has aggregated a huge audience—8.8 million people a month, accordng to Quantcast—primarily on links to content it does not produce (newspaper stories) or pay for (columns).
The funding means Arianna Huffington’s news blog is now considered more valuable by its backers than quite a few publicly traded newspaper companies, such as Lee Enterprises, owner of the St. Louis Post-Dispatch and 52 other papers (market cap: $36 million), A.H. Belo, owner of the Dallas Morning News and the Providence Journal (market cap: $35 million), and Media General, owner of the Tampa Tribune and Richmond Times-Dispatch (market cap: $34.6 million).
It puts Huffington Post in the same league as McClatchy Corp., owner of the Sacramento Bee, Miami Herald and 28 other dailies (market cap: $150 million). In a press release, Huffington Post said it will use the funds from Oak Investment Partners for acquisitions, an “investigative journalism initiative” and localized versions, which will no doubt be even more dependent on the resident struggling local dailies such as in Chicago, where it already has a local site.
This is just more evidence that the newsprint model is dead and that the web is the preferred method for delivery of news and commentary.
2 Comments | Post a Comment
Ozark_Sunshine, Post 1;
And, of course, there have NEVER been any shills for any “immoral, mentally ill” rightists, have there?
For EVERY extremist left-wing rag, talk radio program, or website - there’s an equally extremist right-wing rag, talk radio program, or website. For every misrepresentation and/or outright lie conveyed by an extremist lefty loon - there’s one being conveyed by an extremist righty rockhead.
Frankly, I personally believe that Ann Coulter and Michael Savage may have some severe personality/emotional/mental defects - don’t you?
December 3 at 10:39 am | #1 | Link
HuffPo and McClatchey are nothing more than shills for the immoral, mentally ill leftists. Anything printed there must be taken with a grain of salt considering the source. They wouldn’t know honest journalism if it spit in their faces.