Blog Buying Spree?
It’s been clear for a while that the most popular blogs are faring much better than their traditional media counterparts when it comes to growing readership and pulling in ad revenue. Today, Henry Blodget (he of the Amazon $400 stock prediction) put his finger in the wind and came up with the valution of $100m+ for TechCrunch. Michael Arrington was, unsurprisingly, delighted.
Perhaps the figure is a little over the top, but the point still stands – TechCrunch et al must be looking mighty attractive to quite a few of the mainstream media who have not hit it out of the park online. As Douglas A. McIntyre (who started the discussion in the first place) points out, AOL is already the proud owner of Weblogs Inc (home to Engadget, among others), plus:
“…with the internet operations at newspapers and some other tradition media companies making very little headway, the big blogs take on a very significant attraction. They reach audiences in great numbers. They have credibility. They are not expensive to run. And, they make money.”
McIntyre makes a good case that the New York Times or Washington Post should snap up the Huffington Post for $100m or more, that the Times or Dow Jones should look at popular stock blog Seeking Alpha, and cnet should go for TechCrunch.