Demand Media Unloads Cracked For $39M
socalTECH
APRIL 13, 2016
Santa Monica-based Demand Media has sold Cracked , its online humor site, to the E.W. Scripps Company , in a deal worth $39M in cash, the companies said late Tuesday. According to Demand Media, the move will give it a "more focused portfolio of businesses", and also "significantly" strengthen its balance sheet. Demand Media acquired Cracked in 2007.
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