NY Post: Pittman Gobbles Up DailyCandy Shopping Site
DailyCandy's unironic logo
Media mogul Bob Pittman's (the man who presided over AOL's atrophy from fastest growing to fastest shrinking ISP) acquisition of the frivolous shopping and entertainment site DailyCandy for a reported $3.5 to $4 million. As Amy Langfield points out, the site is full of virtually unlabeled advertorials. It would seem to be not much more than a blog-ish newsletter, although they appear to have an actual staff.
The Post reports Pittman hopes to transform this web equivalent of a weekly shopper's guide and coupon supplement into a "multimedia player that could extend its brand into magazines and books, stand-alone television shows." Calls to ask what Pittman and fellow investors were smoking at the time of their fanciful plans making were not immediately returned.
Nick Denton, publisher of Gawker Media, and other managers of would-be shoe-string publishing empires, might take these developments to signify that they too might be able to find rich investors who style themselves as media players.
