Report: Glam Media to snub billion-dollar buyout offer
Glam Media has always been adamant that it's not just another ad network, something it reiterated when it announced a revenue-sharing video platform for its member sites this week.
But apparently, some big company really thinks that Glam's something special. Amid the gossipy deal making of the D6 Conference, someone at tech money blog VentureBeat heard that Glam had just received a $1.3 billion acquisition offer that it plans to turn down.
The reason it plans to shug off the offer, according to VentureBeat, is that Glam's investors--which include Accel Partners and Hubert Burda Media--"see a bigger opportunity for Glam to build a large business for high-end display advertising." That might mean an initial public offering.
So who is the spurned suitor, if VentureBeat's report is correct? I don't think it would be Google or Yahoo--or Microsoft, for that matter. My money's on a big "old media" company, or possibly a massive ad industry player looking to expand its digital footprint.
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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.
