WebMediaBrands Buys Inside Network

MediaBistro’s parent company WebMediaBrands has just agreed to buy Inside Network, the owner of Inside Facebook, Inside Social Games, and other sites. A total of $7.5 million in cash and $4.1 million shares will be changing hands.

WebMediaBran ds CEO Alan M. Meckler had this statement in the release:  “When combined with our leading social media blogs such as AllFacebook, SocialTimes, and AllTwitter, I believe that WebMediaBrands is now the leading source of news and information about Facebook, social gaming, Twitter, and social media.”

via Paid Content

Editor’s note: We will continue to update this post as we receive more information.