Kataku, Deadspin, Gizmado, etc sold for Peanuts.

Bobobie

Registered User
#1
Good.




Link To Article




Gizmodo Media Group is sold to a private equity firms
The plan is “targeting marketers who are seeking brand-safe content and high-quality audiences that are difficult to find elsewhere.”
By Christine Schmidt @newsbyschmidt April 8, 2019, 1:28 p.m.



It seems depressingly predestined, or at least depressingly 2019: One of the web’s original publishing upstarts — a controversial but highly influential company that brought bloggy energy to digital media, valued not long ago at a quarter-billion dollars — is now in the hands of a private equity firm that bought it for the spare change in its (very nice) couch cushions.
The Wall Street Journal’s Benjamin Mullin first reported that Univision is selling Gizmodo Media Group to private equity firm Great Hill Partners — which is creating a new company called G/O Media with the assets and putting Jim Spanfeller, former executive at Forbes.com and Ziff Davis (with some Tronc crossover), in charge. The price was not disclosed, though Peter Kafka hears it was less than $50 million.
The deal encompasses a lot of properties with a variety of histories. There are the sites that were originally a part of Gawker Media (R.I.P.): Gizmodo, Jezebel, Deadspin, Lifehacker, Jalopnik, Kotaku, and io9. Univision purchased those for $135 million except for Gawker.com in 2016, then Gawker shut down. (Something called “Gawker” may return soon.) Univision had separately acquired a controlling stake in The Onion earlier that year. There’s also The Root, which Univision acquired in 2015, and two sites that Univision had launched on its own: Splinter (née Fusion) and Earther. Per Variety, “a Univision rep said that all employees of GMG and The Onion will be joining G/O Media,” and it’s unclear if there will be layoffs. (Usually, there are layoffs.)
Private equity firms don’t exactly have the greatest track record for keeping media organizations alive and well. Spanfeller, the incoming chief executive of G/O, comes from digital publisher Ziff Davis, which purchased Mashable in a 2017 fire sale. The company promptly laid off 50 people — after being outbid by Univision for Gizmodo Media Group.
Here’s what Great Hill managing partner Chris Gaffney, who has served on Ziff Davis’ board, had to say: “From our experience across the digital media landscape, we know it is not every day that an attractive suite of digital media assets becomes available with strong brand recognition among consumers and advertisers, and a set of engaged, vertical audiences which together are larger than Vox, BuzzFeed or Vice. We are excited by growth and see a great opportunity to further scale a high-quality content producer led by an experienced digital media executive like Jim.”
Great Hill doesn’t own a lot of media companies; the only company listed in the “media” section of its portfolio doesn’t really fit the definition. It says it typically holds companies for 3 to 7 years before an exit of some sort.

 

Yesterdays Hero

She's better than you, Smirkalicious.
#4
Nice start to the day. Any 'gaming site' that shits on small devs and gives sloppy bj's because of a nice kickback to the big devs needs to go. I'd have enjoyed sitting in the lobby of Kotaku when it went down and just watched.
 

Bobobie

Registered User
#5
Go online and read any of their recent articles and it's easy to see why they have never recovered from Gamergate.
 

Bobobie

Registered User
#9
Hill had a discussion with his agent's PR department. You can't be a shitlord and get AAA roles in Hollywood anymore.
 

Atomic Fireball

Well-Known Member
Donator
#11
I sometimes wonder what happens to the old-school Hollywood pinkos you no longer see making pests of themselves. Mike Farrell, Martin Sheen, Susan Sarandon... Do they get too decrepit to fight the battle or sadder, the media won't give them exposure anymore?
 

ruckstande

Posts mostly from the shitter.
Donator
#13
I can't find it now but Tim Pool had a great video on a recent report about how these woke leftist media outlets are going after a very small minority of consumers. There aren't that many SJWs as they like to think and that more people are less media savvy and a lot more middle of the road.
 

Voodoo Ben

The African Dream
#14
I can't find it now but Tim Pool had a great video on a recent report about how these woke leftist media outlets are going after a very small minority of consumers. There aren't that many SJWs as they like to think and that more people are less media savvy and a lot more middle of the road.
Also news sites keep pushing for more "diversity & representation" in comics, video games, movies, & tv while complelely ignoring the fact that when comics, video games, movies, & tv get woke they always bomb.

I had to stop going to CBR.com because they wouldn't stop pushing for that crap and ignored all the woke comics that bombed and ignoring the fact that Marvel, DC, & IDW are in shambles because they got woke.

Also they wouldn't stop browbeating about Captain Marvel.
 
#16
Also news sites keep pushing for more "diversity & representation" in comics, video games, movies, & tv while complelely ignoring the fact that when comics, video games, movies, & tv get woke they always bomb.

I had to stop going to CBR.com because they wouldn't stop pushing for that crap and ignored all the woke comics that bombed and ignoring the fact that Marvel, DC, & IDW are in shambles because they got woke.

Also they wouldn't stop browbeating about Captain Marvel.
I stopped reading American comics completely because they kept pushing more and more garbage. A year or two after I stopped they made Ice Man gay after 50-60 years of being straight.
 

Bobobie

Registered User
#17
I can't find it now but Tim Pool had a great video on a recent report about how these woke leftist media outlets are going after a very small minority of consumers. There aren't that many SJWs as they like to think and that more people are less media savvy and a lot more middle of the road.
The online sites and Media congloms that owned sites like Kataku were doing click-bait articles. It didn't matter if rational consumers thought the piece was deranged or stupid, because the idea was to drive traffic to your site.
 

BIV

I'm Biv Dick Black, the Over Poster.
#18
I feel bad for Jason Schreier. He doesn't deserve to have his name associated with Kotaku.

Not a lot of places he can go without running it himself, which he has zero interest in.
 

Bobobie

Registered User
#19
I feel bad for Jason Schreier. He doesn't deserve to have his name associated with Kotaku.

Not a lot of places he can go without running it himself, which he has zero interest in.
I don't and he does. He's part of the problem. He flippantly calls people Alt-Right and Nazis when they clearly are not. Occasionally, he'll do some a good investigative journalism, but he loves his progressive politics.
 

BIV

I'm Biv Dick Black, the Over Poster.
#20
I don't and he does. He's part of the problem. He flippantly calls people Alt-Right and Nazis when they clearly are not. Occasionally, he'll do some a good investigative journalism, but he loves his progressive politics.
I guess I've never seen that.
 
#21
I guess I've never seen that.
The fight between him and Yong Yea was one of these times. Yong is not a sensational type of news guy. Yet Jason still threw his hissy fit so badly that the two had to sit down and hash it out.

Never trust a man with a girls voice like Jason.
 
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