Gothamist, the local city blog network that is best known for its New York City edition, is being acquired by Cablevision-owned Rainbow Media, paidContent has learned. The price is between $5 million to $6 million, though we understand a good portion of that is a performance-based earnout. Rainbow has Cablevision’s cable channels in its portfolio, including Sundance, IFC, AMC and others. The company, under the parent, also owns Newsday, which focuses on Long Island in NY, though unclear if there will be any synergies between Gothamist and Newsday with this acquisition. Another possibility for Gothamist is local cable TV rollout on Cablevision (NYSE: CVC) systems.
via paidcontent.org
Congrats to Jake Dobkin and the folks at Gothamist, and congrats to Rainbow Media, on this great union!
n.b. It's local boy *and* girl -- Jen Chung co-founded and is Editor. But yeah, great news!
Posted by: Anil Dash | March 22, 2010 at 03:21 PM