The Guardian puts PaidContent up for sale
The Guardian is seeking a buyer for publication group ContentNext Media, which includes media news site PaidContent.
The value of the company is thought to be between $15m-$20m, and comes just three years after Guardian Media Group bought it, reported for $30m.
A statement by the Guardian read: “Following a strategic review Guardian News & Media has decided to seek a buyer for ContentNext Media.
“ContentNext is a high-quality asset but our focus in the U.S. is on building the Guardian. It's early days but we have received several expressions of interest and are talking to a select number of potential buyers."
According to PaidContent itself, ContentNext has three active sites; paidContent.org, mocoNews.net and paidContent:UK.co.uk, while a fourth site, contentSutra.com, doesn’t currently have its own staff.
It also has 16 members of staff and contributors in the US and UK.
“I’m very proud of what our talented, resourceful team does every day. We’ve enjoyed working with the Guardian, and are very excited about our next chapter,” said Caryn Whitman, chief operating officer of ContentNext.
A spokesperson for the Guardian has said that the reports that it is seeking between $15m-$20m for the publication is not a figure that it has pinpointed in seeking a buyer.