The tech web site Gizmodo has been offered to a European media firm, the newest model from the writer G/O Media to exit the door.
The client is Keleops Media, Jim Spanfeller, G/O Media’s chief government, advised the workers in an e mail on Tuesday. Mr. Spanfeller didn’t disclose the monetary particulars of the sale, however mentioned that it represented “a considerable premium from our unique buy value for the positioning.” A G/O Media spokesman declined to remark.
Mr. Spanfeller mentioned Keleops, which relies in France and Switzerland, had agreed to maintain all of Gizmodo’s workers members, who would proceed working in G/O Media’s New York workplace “not less than for the close to time period.”
“The location’s new homeowners are very excited to be getting an excellent model with a proficient group of journalists,” he wrote within the e mail, which was considered by The New York Instances. Keleops Media didn’t instantly reply to a request for remark in regards to the sale.
Gizmodo is the newest web site offered by G/O Media, which was shaped in 2019 as a group of internet sites that after belonged to the Gawker Media empire. On the time, Gawker’s websites included Gizmodo, The Onion, The Root, Kotaku and others.
G/O Media, which is owned by the personal fairness agency Nice Hill Companions, offered the satirical information web site The Onion in April to a gaggle of digital media veterans. It has additionally offered off Jezebel, Lifehacker, Deadspin and the A.V. Membership in recent times. The web sites it nonetheless owns are the enterprise information web site Quartz, the auto web site Jalopnik, the gaming web site Kotaku, the Black commentary and information web site The Root and the critiques web site The Stock.
In his memo on Tuesday, Mr. Spanfeller mentioned that the promoting market, which the web sites depend on closely for income, was seeing indicators of enchancment and that G/O Media had seen “some terrific gross sales wins on each the direct and programmatic promoting fronts” prior to now few months.
