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Weekly News Digest

July 17, 2008 — In addition to this week's NewsBreaks article and the monthly NewsLink Spotlight, Information Today, Inc. (ITI) offers Weekly News Digests that feature recent product news and company announcements. Watch for additional coverage to appear in the next print issue of Information Today. For other up-to-the-minute news, check out ITIís Twitter account: @ITINewsBreaks.

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Guardian News Acquires ContentNext Media

Guardian News & Media (GNM; www.gmgplc.co.uk) announced the acquisition of ContentNext Media (www.contentnext.com), a B2B media company that covers digital media, the entertainment and technology sectors, and publishes paidContent.org. Its founder and editor, Rafat Ali, and CEO, Nathan Richardson, will continue to run the company as a stand-alone business.

ContentNext, based in Santa Monica, Calif., and New York City, is an online media hub delivering professional news, information, and analysis to executives in the media, entertainment, and technology sectors. Its publishing network comprises the flagship paidContent.org, providing global coverage of the business of digital content; mocoNews.net, covering the business of mobile content; paidContent:UK, focusing on the U.K. and Europe; and contentSutra.com, covering India’s digital content market. The company also runs a complementary events business.

The move marks a major step in Guardian News & Media’s expansion outside of the U.K. In the last 9 months it has launched Guardian America, offering news and comment to a U.S. audience, and forged a new commercial relationship with Reuters to sell advertising in the U.S. GNM, which publishes two U.K. newspapers, The Guardian and The Observer, and the guardian.co.uk network of websites, also owns a B2B division, Guardian Professional, providing publications, events, and conferences to professional audiences in its core sectors of media, education, and the public sector. ContentNext will form part of the Guardian Professional group.

ContentNext was founded in 2002 by Rafat Ali and funded by Greycroft Partners in 2006. Guardian News & Media Ltd. is a division of Guardian Media Group plc. Guardian Media is owned by the Scott Trust. Terms of the deal were not disclosed. [Price of the acquisition is rumored to be $30-plus million.]

Source: Guardian News & Media



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