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 Send to email | Comcast Buys DailyCandy For $125 Million* in CMCSA |  By Silicon
el 05-Aug-2008 |  As previously reported, Comcast (CMCSA) was indeed interested in buying DailyCandy. But they ended up paying much more than the $75 million we head about earlier this month -- the cable company is paying Bob Pittman's Pilot Group Ventures $125 million for newsletter business, a source close to the sale tells us.
We hear that Viacom was also interested in the property, which has been off and on the blocks for the last few years, and had been considering paying $120 million. We also hear the company dropped out of the bidding process, run by Web 2.0 bankers Montgomery & Co., in June. In a congratulatory letter to the DailyCandy staff, Pittman says that the company is on track to hit $25 million in revenue this year and EBITDA of "well over" $10 million:
"I have been associated with the start-up, turnaround or acceleration of many companies and major brands, and rarely have I seen the kind of creativity, commitment and passion I've seen day in and day out at DailyCandy. And the results speak for themselves: since we made our investment in 2003, subscriptions have grown from just over 200,000 to over 2.5 million."
This is a nice win for Pilot (disclosure: Pilot is an investor in SAI parent Silicon Alley Media), which paid something in the $3 million range for Dany Levy's company in 2003. Meanwhile this continues a string of purchases for Comcast's digital group, which has now spent more than $600 million on M&A in the last two years.
See Also: Rumor: DailyCandy To Comcast For $75 Million?
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| BitTorrent, Comcast (CMCSA) Shake Hands, Downloaders Still Screwed | | Comcast and BitTorrent will work together to make peer-to-peer file downloads work more efficiently, the companies said today. Good news for BitTorrent? Sure. Will it get the FCC off Comcast's back? Maybe. Good news for Comcast customers? Nope.
Why's that? Because instead of just slowing down BitTorrent file transfers, Comcast says that by the end of the year, it will start slowing down [..] Read complete article | | Published 27-Mar-2008 by Silicon in NFLXCMCSAAAPL
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| Comcast Still Hates Its Customers, Still Not Secure | | Ooooooooh Comcast. If there’s one person whose service you probably shouldn’t terminate without cause and who you shouldn’t made idle threats against, it’s probably Dave Winer. You know, the guy who invented blogging? Yesterday, Winer posted at length with regards to a recent ordeal with Comcast. To paraphrase, Comcast identified Winer as a customer using [...] [..] Read complete article | | Published 17-Apr-2008 by Zach Epstein in OpinionsNetworks
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| Comcast, Time Warner Cable To Fund Sprint-Clearwire WiMax Venture? | | Comcast and Time Warner Cable, the two biggest U.S. cable companies, are in talks to fund a wireless joint venture that would be run by Sprint Nextel and Clearwire, the Wall Street Journal reports ($).
According to the plan, Comcast (CMCSA) would kick in $1 billion, Time Warner Cable (TWC) would contribute $500 million, and Bright House, Google (GOOG), and Intel (INTC) could also fund th [..] Read complete article | | Published 25-Mar-2008 by Silicon in SVZCLWRTWCTCMCSAINTCGOOG
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