AOL to Acquire Weblogs, Inc.
Paid Content is reporting AOL will acquire Jason Calacanis' Weblogs Inc., a two and a half year-old network of 75-plus weblogs including Engadget, Autoblog and AdJab. The deal is said to be finalized with plans in place to announce the deal this week. Calacanis isn't confirming or denying the deal according to Paid Content.
The deal could be worth as much as $35 million but it's likely to be far less. Even so, that's a lot of money for anything weblog-related and perhaps is an encouraging stamp of approval of sorts for the medium. It is said AOL plans to keep the Weblogs, Inc. network of blogs separate from the rest of AOL properties at least for the time being. No doubt, more details will follow.