ContentNext Media, which operates PaidContent.org, announced Friday that it was acquired by Guardian News & Media (GNM), in a move to bolster the parent company of Guardian's B2B division and give it a U.S. presence.
(Credit:
PaidContent.org)
Under the deal, PaidContent.org will become part of the Guardian Professional group division of GNM's parent company, Guardian Media Group. ContentNext, which sells news and analysis to media, entertainment, and technology executives, will remain a standalone business as part of GNM.
Financial terms were not disclosed.
According to a PaidContent.org blog, the company was planning another funding round when Guardian approached the company about a merger.
All the pegs fit into the right holes: a company that will help us scale, add to our existing portfolio of products, and most importantly, help keep "Our Essence of Being" intact. For our team, the biggest consideration was working with a media company known for its journalistic integrity, its long-term view of the businesses - and its international outlook in editorial coverage as a business..
PaidContent.org hints that further expansion and a "deepening" of its activities are on the horizon.
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