Online content media company, Demand Media, has reportedly sold the web site Cracked.com to E.W. Scripps Co., a print and online publisher.
The all-cash sale of Cracked.com, a web site providing odd, trivia and other entertaining content, was for $39 million dollars.
Shares of Demand Media (DMD) closed up 11.83% on Wednesday.
Cracked had revenue in 2015 of approximately $11 million dollars and was profitable.
“Cracked is a natural extension of the Scripps strategy to take a leadership position in high-growth content marketplaces,” said Adam Symson, Scripps chief digital officer.
“Scripps will help Cracked reach new and larger audiences as it continues to build its brand on the web, in over-the-top video and audio and on other emerging platforms.”
Headquartered in Santa Monica, California, Cracked launched in 1958 as a humor magazine, eventually competing with MAD. It was purchased in 2007 by Demand Media, which focused on growing the website, turning it into “a digital comedy hub.”
Recent articles on Cracked.com included “5 Ways Movies Say You Can Die (That Science Says Are Wrong)” and “6 Ways US Elections Look Insane To Non-US Citizens.”
Fun stuff.
French domain investor Francois Carrillo has been featured on Cracked.com as well. 😀
Demand Media is the parent company of Rightside. For the press release about the acquisition of Cracked.com by E.W. Scripps Co., click here.
Demand Media sold Cracked.com.
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