TreeHugger acquisition confirmed
A representative for eco-blog TreeHugger has confirmed that the site has been acquired by Discovery Communications, parent company of the Discovery Channel, The Science Channel, Animal Planet, and several other properties. A report of the deal initially surfaced in the New York Post today.
A press release from Discovery and TreeHugger confirmed that the blog will be part of the upcoming Planet Green network, but financial terms of the deal were not disclosed. The New York Post had suggested a $10 million price tag.
"TreeHugger.com is a strategic complement to our digital media portfolio, aligning perfectly with Discovery?s corporate values and the Planet Green initiative," Bruce Campbell, Discovery Communications' president of Digital Media, Emerging Networks and Business Development, said in a joint statement. "Bringing TreeHugger.com into the Discovery family gives it the resources to continue doing what it does best: bringing green living to the masses."
TreeHugger founder Graham Hill added, "Discovery Communications, with its global reach and high level of commitment to Planet Green, is launching the most significant effort in green media to date--and we?re excited to be part of it."
Caroline McCarthy, a CNET News staff writer, is a downtown Manhattanite happily addicted to social-media tools and restaurant blogs. Her pre-CNET resume includes interning at an IT security firm and brewing cappuccinos. E-mail Caroline.
