AOL confirms Weblogs Inc buyout
AOL has confirmed it is to acquire blog network outfit Weblogs, Inc as part of a plan to keep subscribers and advertisers locked into its content.
Financial details were not disclosed although earlier reports claim the US internet giant was prepared to shell out $25m for the company.
Jim Bankoff, an AOL bigwig with a long job title, said the tie-up with Weblogs would enable its punters "to 'deep-dive' into a vast array of compelling topics that keep them interested and entertained on our network of properties".
"Weblogs, Inc. provides AOL with the ability to quickly launch websites and communities across areas our audience is passionate about, and advertisers are interested in," he said.
Privately-held Weblogs, Inc was founded in 2003 and operates a network of 85 blogging sites covering topics including technology (Engadget and Joystiq) music, movies, travel technology and finance.
The company features more than 100 independent, freelance expert bloggers producing more than 1,000 blogs a week. Which is nice. ®