Heres what I posted about it on my own blog:
Blog publisher Weblogs Inc. was purchased by AOL for $25 million.
This is a company I have been following closely ever since I learned that they cleared close to $1 million a year from Adsense. The way the company works is they hire bloggers who can can then post on multiple blogs accross the network.
The company was founded sometime around 2003. The details Ive gathered show they pay their bloggers roughly $1 million a year, make $1 million from Adsense, and make another $1 million from selling their own ad space. Some of their most notable blogs are autoblog, engadget, and luxist. They run a total of 80 blogs.
One of the advantages the Weblogs Inc. has by running a huge network of sites rather than each one seperately of each other is that launching a new blog is easy. Every blog is linked to on each and every page of every blog. This is a technique that lands some search engine optimizers websites in hot water but it appears to only have had a positive effect for Weblogs.
This is a great payday for two guys who started their own blog network a couple years ago. Its also proof that paying for content is worth it even if it cuts into your immediate profit margins.
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