Exclusive: Weblogs Inc Being Bought Out By America Online: [by Rafat Ali] As usual, you read it here first: Weblogs Inc, the blog media company founded by Jason Calacanis (pictured at We Media conference today) and Brian Alvey, is being bought by America Online, paidContent.org has learned from multiple sources. The deal is done and should be announced this week...(Updated: it might be announced tomorrow AM now.) Among the other companies Weblogs Inc talked to included the usual suspects: News Corp, Yahoo and MSN... This is a very quick exit: the company was founded about two years ago, and took some money from Mark Cuban a year down the line. For Calacanis, this is his second company being sold in a space of about two years...his original company Rising Tide Studios was first sold to Wicks Business Information, which in itself was bought out by Dow Jones. The company's blogs have had an exponential trajectory, with sites like Engadget, Autoblog, BloggingBaby, and others. In total, the company has about 130 bloggers, with about 15 full time employees, from what I know.
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