Conde Nast isn’t waiting for print magazines to sink
Not long ago I noted that Conde Nast, a magazine publisher, is vastly expanding its online presence — they recently acquired some travel blogs with hints that more acquisitions were soon to follow.
Today we learn that they just bought the popular technology site Ars Technica.
“The site will become part of Wired Digital (which in turn is under CondéNet, run by Sarah Chubb),” reports TechCrunch. “Wired Digital assets include Wired.com and Reddit (acquired in 2006).”
Arrington’s sources tell him that the buying price is somewhere around $25 million, the same it paid for Wired.com back in 2006 when it brought both the Wired site and magazine under the same roof.
It looks as if the magazine company, which already publishes venerable magazines like Vanity Fair and The New Yorker, is securing its place as an online juggernaut.
