Guardian News & Media buys ContentNext Media

LONDON: Guardian News & Media, publisher of Britain's The Guardian and The Observer newspapers, has acquired US digital media firm ContentNext Media, the company said on Friday in a statement.

ContentNext, based in Santa Monica, California and New York City, covers the media, entertainment and technology sectors. Its network includes the paidContent.org, mocoNews.net and contentSutra.com Web sites. The company also runs an events business that brings together business decision-makers and "thought-leaders."

ContentNext founder Rafat Ali said in an article on paidcontent.org that it would be part of the Guardian Professional group, the business-to-business media division for Guardian News & Media which runs the MediaGuardian Web site.

"Expect some very interesting things from us later this year, including continued expansion and deepening of our activities," Ali wrote.

Ali was quoted in the Guardian statement as saying that "the Guardian's international reputation for editorial integrity and digital innovation make it the perfect partner to help ContentNext to grow its expanding platform."

ContentNext management would continue to run the business, the Guardian News & Media statement said. It did not give a price for the transaction.