GigaOM acquires's parent company

GigaOM, a San Francisco-based Web 2.0 online news site, has acquired fellow digital media company ContentNext Media, the parent company of the popular site ContentNext was put up on the market last November after its previous owner, Guardian News & Media, decided to ditch the brand and focus instead on expanding the reach of its other online publication. In other words, it's a whirlwind of corporate hand-offs that was officially announced today.

PaidContent is not only just a news website but it also functions as a catalyst for change in the industry, sponsoring its own branded conferences that discuss the evolution of media and technology. Through the acquisition, GigaOM will be able to expand its reach beyond tech heads and enthusiasts. PaidContent and its parent company ContentNext were previously owned by Guardian News & Media.

That company is best known for its namesake UK-based website In recent years, though, the site has been attracting a lot more viewers in the US. Guardian's acquisition of ContentNext was no doubt a push to reach the North American market, but as the Guardian's own primary website has begun to do that, it decided to put ContentNext up for sale. Enter GigaOM, which now joins the ranks of companies like AOL and SAY Media in the world of digital publishing acquisitions.

[via NY Times]