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New Media

Condé Nast Buys Wired News For $25M

By Dylan on July 11, 2006 10:07 PM

wired_news_logo.jpg

Condé Nast Publications has acquired Wired News for $25 million from Lycos, reuniting Wired.com and Wired magazine. The deal was announced in Korea late Tuesday.

Lycos acquired Wired News as part of its June 1999 acquisition of Wired Digital in a stock transaction valued at about $83 million at the time. Since then, Wired News has published Wired magazine articles on the web under a contractual relationship, while reporting independently on technology and science news.

Tuesday’s deal includes all the assets of Wired News, such as the website, news content and domain name, but leaves Lycos in control of former Wired Digital properties such as HotBot, Hotwired and Webmonkey. Upon completion of the transaction, the assets of Wired News will be operated as part of Condé Nast Publications’ web division, CondéNet. No layoffs at Wired News are planned as a result of the deal.

Condé Nast Buys Wired News [Wired]

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