GigaOM expands reach, influence with paidContent acquisition
GigaOM is getting considerably larger today as it has officially revealed that it is acquiring the assets of ContentNext Media from Guardian News & Media Limited.
Chiefly, that includes paidContent (both the U.S. and U.K. versions) as well as mocoNews.net and contentSutra.
Founded in 2006, GigaOM is already a strong brand of its own with online media, events, and market research branches.
GigaOM's founder and senior writer Om Malik explained in a post that the move only came about a few weeks ago after GigaOM CEO Paul Walborsky suggested buying paidContent.
The primary motivations behind this strategy are to extend GigaOm's reach geographically (especially on the East Coast and in Europe) as well as beef up the staff.
I have always believed that we’ve got to stop thinking of media as what it was and focus on more of what it could be. In the world of plenty, the only currency is attention and attention is what defines “media.” Zynga is fighting Hollywood for attention (and winning). Instagram is taking moments away from other media. They have attention. There are old companies that are dying and new ones that are being invented. We’re eager to expand our coverage of social and digital media editorially, in our research and at our events. paidContent is the best chronicler of the media industry, and by blending their coverage with ours, we hope to watch this fast-changing industry ever more closely.
ContentNext Media executive editor Ernie Sander added in a release that "we've got a potent blend of distinguished content on the sites, smart events, and deep-dive research products."
Following this merger, GigaOM readers are told to expect more coverage of social and digital media at events, on GigaOM.com and in GigaOM Pro research reports.
Financial terms of the agreement have not been disclosed.
At least one representative of Guardian News & Media will join GigaOM's board of directors as an observer. Guardian News & Media, which bought ContentNext Media in 2008, will also take a minority share in GigaOM, joining existing investors such as Reed Elsevier Ventures, Alloy Ventures and True Ventures.
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