AOL buys Weblogs Inc. For $25M

According to Paid Content, America Online is going to buy Weblogs Inc., a two-year old blog media company founded by Jason Calacanis. Some of the blogs in the Weblogs Inc. network are Engadget, Autoblog, TVSquad, and DownloadSquad. This is the first major acquisition of a blog network by a mainstream media company. AOL itself intends to keep the company separate from its site. Later, Reuters reported that the sale worth $25M.
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