AOL BUYS WEBLOGS INC FOR $25 MILLION
Interesting move by AOL. I guess the dinosaur is slowly awaking. Congratulations to Jason and his colleagues!
America Online Inc. has agreed to buy Weblogs Inc. -- a network of Internet diaries focused on niche topics ranging from food to gadgets -- for around $25 million, a source familiar with the deal said on Wednesday.
AOL, a unit of Time Warner Inc., could announce the acquisition of New York-based Weblogs Inc. (http://www.weblogsinc.com//) as early as Thursday, the source said.
Weblogs includes roughly 80 advertising-supported sites published by a group of more than 100 bloggers. (full article)