Report: Comcast eats up DailyCandy
The cable provider reportedly ends up paying $125 million for the women's e-newsletter company; Viacom denies it was in a bidding skirmish for the buy.
Women's e-newsletter start-up DailyCandy seems like a better fit for Conde Nast than Comcast, but Silicon Alley Insider is reporting that the cable company has acquired it for $125 million. The blog wrote that Viacom had been in the running, too; a Viacom spokesman told CNET News.com on Tuesday evening that while the media conglomerate had been interested, it had never made a bid for DailyCandy and had dropped out in early June.
DailyCandy's demographic of trendy urban women is a niche that advertisers love, but it's still a higher price tag than many observers expected.
The company had already been acquired once, by former AOL exec Bob Pittman's Pilot Group investment firm. That was for about $3 million five years ago; DailyCandy now employs about 60 people and Thrillist.. It's the second e-newsletter that the Pilot Group has flipped this year, having sold the much younger "eco" publication Ideal Bite to Disney ; the firm still owns a majority stake in slacker-dude list
ComcastMovies.com and .
This post was updated at 6:16 p.m. PT with comment from Viacom and 7:39 p.m. to clarify wording on the company's interest in DailyCandy.