Yesterday ReadWriteWeb, a popular technology blog founded by Richard MacManus in 2003, announced that it is being acquired by digital publishing upstart SAY Media.
Terms of the deal were not disclosed, but according to TechCrunch's sources, the deal was under $5m.
SAY Media has been active on the acquisition scene, having snapped up web properties including Dogster, Remodelista, a digital agency called Sideshow and publishing platform company Six Apart.
The apparent strategy; instead of simply building an ad network for new media, SAY Media wants to consolidate the market and own the properties it sells against.
The actions of internet entrepreneur Jason Calacanis, no stranger to
controversy, have sparked a debate about media credibility after his
off-the-wall tweets about the Apple tablet were picked up by prominent
online and offline media outlets.
Prior to the launch of the iPad, Calacanis tweeted that he had been "beta testing" the "Apple tablet"
for two weeks and spilled the beans on his experience and the specs.
From old media stalwarts like CNN and the Wall Street Journal to new
media mavens like TechCrunch and Silicon Alley Insider, 'reporters' were quick to relay Calacanis' claims to their audiences.
Talk to many displaced old media types and hear an earful about blogs: they lack standards, don't deliver quality content and they pay their writers far less than what they're worth.
But as we enter the second decade of the 21st century, it looks like bloggers may have a go at crying rivers. Thanks to the rise of companies like Demand Media, which specialize what some argue is large-scale 'content farming', bloggers are now leveling some of the same charges that have been leveled at them.
Twitter's utility as a means to share breaking news is not new. Its track record includes the bombings in Mubai and the landing of US Airways Flight 1549 in the Hudson River.
Over the weekend, Twitter became a hotbed for reporting and discussion of the contentious presidential election in Iran.
The debate over the future of journalism is only getting more heated as some of the most storied newspaper companies sink deeper and deeper into financial distress.
Recently, there has been a noticeable shift in the debate: some are now calling for government intervention. And they're serious about it.
Content may be king but many companies have found that producing and distributing quality content requires a royal bank account.
The plight of the newspaper industry is a good example: news hasn't gone out of style but, for many newspapers, the cost structures associated with producing the news is incompatible with today's market. Costs simply exceed revenues.
With many proclaiming the death of print media and even online media reeling from recession, the future of journalism has never been more in question.
A lot of the discussion around the future of journalism has to do with business models and money. But is there more to the discussion of business models than how to generate revenue? Is it possible that the product of journalism needs to be reevaluated entirely?
I've discussed the economics of blogging numerous times in the past. Can
blogging be a viable career? Can the blogosphere mint hoards of new
millionaires? These are all questions that many have asked over the
past several years as the blogosphere has grown in size and prominence.
Despite the fact that I have been able to turn my blogging activities
into a bit of cash, I've remained skeptical about blogging as a
business and as a career, which is why the man behind Drama 2.0 still calls 'international business' his primary line of work.