ContentNext Media and its sites, including paidContent.org and the UK version of the property, are up for sale.
Parent company Guardian News and Media Limited acquired the company three years ago, and sources close to the deal say the company is looking to recoup about $15 to $20 million from the sale- which would cover the initial outlay as well as subsequent capital infusions since the initial acquisition. Coady Diemar Partners will be handling the marketing for the ContentNext sale.
AllThingsD contacted a Guardian PR rep, who had this to say about the decision to offload the properties:
“Following a strategic review Guardian News & Media has decided to seek a buyer for ContentNext Media. ContentNext is a high-quality asset but our focus in the US is on building the Guardian. It’s early days but we have received several expressions of interest and are talking to a select number of potential buyers.”
The site also reports that the British news brand is selling the site as it gears up to establish a bigger footprint Stateside, beginning with a “web operation” based out of New York.