Guardian News & Media sells paidContent publisher to GigaOM
Guardian News & Media (GNM) has announced the acquisition of ContentNext Media, publisher of paidContent, by GigaOM.
The US business and technology media company will now own paidContent, mocoNews and contentSutra under the deal, which will see GNM take a minority shareholding in GigaOM.
Andrew Miller, chief executive officer of Guardian Media Group, said: "paidContent has a fantastic presence in the tech/media space and the match with GigaOM, itself a really smart and pioneering company, is a good one. We are delighted to become shareholders in GigaOM as part of the deal.
"The Guardian's focus in the US is on building guardiannews.com, but we look forward to seeing paidContent thrive and grow in its new home and wish its staff all the very best for the future."
Terms of the deal have not been disclosed.