Associated Content has hired media bankers Allen & Company to perhaps help sell the low-cost content site, Allthingsd’s Peter Kafka reports. (Actually, he goes as far as calling it a “content mill”quotes his, not ours.
This is because Associated Content was “left at the altar” by AOL, which looked set to buy the company for $90 million over the summer until AOL’s then-parent company nixed the deal, saying that AOL should spend its own money, not Time Warner’s. Now that AOL is separate, it doesn’t have the budget to buy Associated Content.
Allen & Co. is known more for oldschool media deals: it’s the company that connected Sony and Columbia Pictures, and counts Walt Disney and Viacom among its past clients. But it was also Allen and Company that took Priceline.com public in 1998.
So…who wants to buy a content mill?