Dany Levy, who along with majority owner, Pilot Group, sold her baby, Daily Candy, for a sweet $125 million earlier this week, told FishbowlNY there was “lots of interest” for the tastemaking company and its reported 2.5 million subscribers. Comcast ultimately won the bidding because “it made sense for Daily Candy’s next home,” Levy said. “The company has tons of resources” to help expand DC’s brand, which in the near future means a redesigned and expanded Web site, along with other products. (Comcast also was likely the only company willing to put up close to the $125 million sale price, as Viacom, another rumored suitor, never bid.)
Levy said she understands why Pilot, which paid $3.5 million for a “controlling stake” in DC in 2003 (and more in 2006 after an attempt to sell for $100 million failed, wanted to flip the company. “It’s their job to provide return to investors,” she explained. “[Pilot] held on to it for five years.”(Andrew Russell, a partner at Pilot, declined to comment until the deal closed.) Levy, who declined to state how much of DC she still controlled, said it was a “very happy deal for everyone.”
According to Levy, Comcast’s other properties will not be allowed access to what New York called Daily Candy’s “sexy mailing list“, one of the properties that made it so valuable. “That’s the worst thing you can do for a company,” she said, because doing so would destroy its user credibility and ruin their trust.
Levy declined to comment on whether the deal included a payout to ensure she stays on, but if recent sales of mediabistro.com and ContentNext are any indication, we’d guess there is. Levy did say that she that she’ll remain editorial director for the time being and that she’s excited for her future with the company: “It’s going to be fun to start getting in people’s lives [in different ways].”