America Online agrees to buy Weblogs Inc.

10/07/05

According to a Thursday Reuters report, America Online Inc. has agreed to purchase Weblogs Inc. -- a network of blogger web sites focused on niche topics.

Even though AOL did not disclose financial terms of the deal, a source close to the matter valued it in the neighborhood of $25 million.

Jim Bankoff, executive VP of programming & products at AOL, said in a statement that "This exciting and groundbreaking combination allows our audiences to be able to do a `deep-dive` into a vast array of compelling topics that keep them interested and entertained on our network of properties, day after day..."

"Weblogs, Inc. provides AOL with the ability to quickly launch websites and communities across areas our audience is passionate about, and advertisers are interested in," Bankoff said in the statement.

In a much easier statement to make sense of, Bankoff later added that "Weblogs, Inc. provides AOL with the ability to quickly launch websites and communities across areas our audience is passionate about, and advertisers are interested in..."

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