As the new media landscape continues to threaten traditional media, digital sites are cashing in like never before.
On Tuesday, German media company Axel Springer announced plans to purchase 88 percent of Business Insider for $343 million, valuing the site at a stunning $390 million. The deal increases Axel Springer’s stake in Business Insider to 97 percent.
That’s a huge win for media-friendly editor Henry Blodget, who’s driven his operation with aggressive aggregation and sexy quasi-business headlines (today: “Carl Icahn Warns: It Could Be Disastrous”),
For context, BI was valued at around $100 million in March of 2013.
But this is just the latest pricey deal for a digital news media site, a segment that hasn’t seen this much action since Huffington Post was acquired by AOL for $315 million in 2011.