July 14, 2006 | In Business |
The publishers of Wired Magazine have agreed to pay $25 million for full ownership of Wired.com, which is currently owned by Lycos Inc., a well-known web portal.
This noteworthy sale of web property will mean “innovation and experimentation with new ways of doing media online,” according to Wired Magazine editor, Chris Anderson.
Conde Nast Publications Inc., which owns Wired and a number of other magazines, will now be able to make lucrative strides into the internet advertising industry, using Wired.com’s premier brand to its full advantage.
