Comcast Shells Out $125 Million for Daily Candy
Comcast Shells Out $125 Million for Daily Candy
Posted 08/06/2008 at 12:34pm
| by Pulkit Chandna
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The rumor mills stand vindicated as far as the buzz about Comcast acquiring Daily Candy goes. But the magnitude of the deal is way more than what the initial reports suggested. The popular newsletter that rants about a range of things from lifestyle to fashion has been bought by Comcast for a whopping $125 million. Daily Candy was founded in 2000 and later sold to Pilot Group Ventures for $3 million in 2003 by its founder Dany Levy. Reports suggest that even Viacom was keen on adding Daily Candy to its bouquet of prime internet real estate. Daily Candy’s outgoing owner, Bob Pittman, expects it to turn in $25 million in revenues.
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