MediaBistro.com is being acquired by Jupiermedia (NASDAQ:JUPM) for $20 million in cash, plus up to $3 million in additional earnings payouts if targets are acheived. MediaBistro.com is not just a news site, it is a news site for media professionals to see specific media news, find jobs, find content, and more.
The company is scheduled to launch Giga-what with Yahoo! (NASDAQ:YHOO) in August as an information site for technology publishers.
Jupitermedia (NASDAQ:JUPM) now has a market cap of $283 million and this acquisition was partly funded by the Jupiter’s $115 million senior credit facility. It appears part of the allure was the paid online job board for media professionals, plus its own growing online content and blogs.
MediaBistro is a company we have been watching, and we’ll have to see how this integrates. So far, no shares have traded in JupiterMedia this morning.
Jon C. Ogg
July 18, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.