Post by The Ultimate Nullifier on Apr 21, 2014 16:47:54 GMT -6
variety.com/2014/digital/news/discovery-unloads-howstuffworks-website-for-45-million-taking-steep-loss-1201160103/
Discovery Communications is selling the assets and operations of explainer site HowStuffWorks — which it bought for $250 million seven years ago — for $45 million in cash to digital-media firm Blucora.
As part of the deal, Discovery will retain key client relationships from HowStuffWorks and also will have ongoing access to HowStuffWorks’ video assets. In addition, the company will partner with Blucora and HowStuffWorks to continue to deliver native-advertising solutions.
Deal is expected to close in the second quarter of 2014, subject to usual closing conditions. HowStuffWorks will join the Blucora’s InfoSpace business, a provider of white-label search and monetization solutions. Blucora disclosed the $45 million purchase price in a regulatory filing Monday.
HowStuffWorks, founded in 1998, provides articles and videos — such as “Who is the most famous person of all time?” and “How does death by hanging work?” — across thousands of topic areas. The site generates some 200 million page views per month and attracts 38 million monthly unique visitors.
Bluecora, based in Bellevue, Wash., changed its corporate name from InfoSpace in 2012. The company also owns tax-preparation service TaxAct and has e-commerce website Monoprice.
Discovery Communications is selling the assets and operations of explainer site HowStuffWorks — which it bought for $250 million seven years ago — for $45 million in cash to digital-media firm Blucora.
As part of the deal, Discovery will retain key client relationships from HowStuffWorks and also will have ongoing access to HowStuffWorks’ video assets. In addition, the company will partner with Blucora and HowStuffWorks to continue to deliver native-advertising solutions.
Deal is expected to close in the second quarter of 2014, subject to usual closing conditions. HowStuffWorks will join the Blucora’s InfoSpace business, a provider of white-label search and monetization solutions. Blucora disclosed the $45 million purchase price in a regulatory filing Monday.
HowStuffWorks, founded in 1998, provides articles and videos — such as “Who is the most famous person of all time?” and “How does death by hanging work?” — across thousands of topic areas. The site generates some 200 million page views per month and attracts 38 million monthly unique visitors.
Bluecora, based in Bellevue, Wash., changed its corporate name from InfoSpace in 2012. The company also owns tax-preparation service TaxAct and has e-commerce website Monoprice.