Comcast Buys DailyCandy For $125 Million
Comcast have bought newsletter publisher Daily Candy for $125 million. Founded in 2000 to provide shopping tips to young urban women in New York, the company now publishes 3 daily and 8 weekly newsletters, reaching 2.5 million subscribers in 11 American cities and London. The NY Times reports:
Comcast’s interactive media division has embarked on a buying spree recently, striking deals like last year’s purchase of Fandango, the online movie ticket seller. In DailyCandy, the company saw a content provider with an attractive advertiser base and an established local and national presence, according to Sam Schwartz, executive vice president for Comcast Interactive Media. The site will serve as a natural partner for Comcast properties like E! and the Style Channel, he said.