Time Inc. has acquired Jane Pratt's xoJane and xoVain websites in a bid to build up its portfolio of brands that target millennials. Adweek first reported that the acquisition was imminent on Oct. 16.
The deal is the latest in a string of big moves from the New York magazine publisher this month. On Oct. 18, Time Inc. bought HelloGiggles, a lifestyle site founded by actress Zooey Deschanel in 2011. The Wall Street Journal pegged the deal at $20 million.
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