Condé Nast Buys Wired News For $25M
Condé Nast Publications has acquired Wired News for $25 million from Lycos, reuniting Wired.com and Wired magazine. The deal was announced in Korea late Tuesday.
Lycos acquired Wired News as part of its June 1999 acquisition of Wired Digital in a stock transaction valued at about $83 million at the time. Since then, Wired News has published Wired magazine articles on the web under a contractual relationship, while reporting independently on technology and science news.
Tuesday’s deal includes all the assets of Wired News, such as the website, news content and domain name, but leaves Lycos in control of former Wired Digital properties such as HotBot, Hotwired and Webmonkey.
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