Mediabistro will sell its editorial and e-commerce assets to a subsidiary of Prometheus Global Media, which also owns Adweek, The Hollywood Reporter and Billboard, for $8 million in cash. That’s significantly less than the $23 million Jupitermedia paid to acquire Mediabistro in 2007 — but the parent company’s stock total market is about $6.3 million, even after a 13 percent gain today. As Crain’s notes, the parent company reported a loss of $5.7 million in 2013, on sales of $12.5 million. Prometheus is acquiring Mediabistro’s editorial properties, job board and education business. CEO Alan Meckler will retain the trade show business and related […]
