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Tuesday, May 20, 2008

Officially Announced The Acquisition of Ars Technica by Condé Nast

image Ars Technica & Condé Nast has officially announced the acquisition of Ars Technica by Condé Nast. Below is a press release published yesterday.

"Ars Technica, one of the leading technology sites on the Web with 4.4 million unique monthly visitors and 30+ million monthly page views, will become part of WIRED Digital, operating as an independent unit of the fast-growing division, it was announced today.

The announcement was made by Sarah Chubb, president of CondéNet, the digital division of Condé Nast, which has managed the growth of the WIRED Digital sites, and David Carey, group president, Condé Nast, who oversees the sales and marketing efforts for WIRED Digital.

“We welcome Ars Technica to WIRED Digital and Condé Nast, as we believe this fantastic site allows us to accelerate our expansion by tapping into a vital and sophisticated community," Chubb said. "WIRED Digital can now provide a network of highly trafficked technology sites that attract an engaged, tech-savvy reader."

In addition, Webmonkey, the popular web developer tutorial site, will be re-launched under WIRED Digital. Plans are also underway to revive HotWired.com, recognized as a pioneer in the industry as one of the first commercial web brands.

The combined sites of WIRED Digital now reach close to 19 million unique visitors per month.

"The rapid growth of the WIRED Digital family—with the momentum of Wired.com and Reddit, the addition of Ars Technica, and the return of Webmonkey and HotWired—will allow us to have a larger voice and presence in the technology publishing arena and offer an exciting digital platform for our advertisers," Carey said.

Founded in 1998 by Ken Fisher and Jon Stokes, Ars Technica is highly regarded for producing insightful, opinionated tech news and analysis for its loyal and growing audience. Based in Boston, MA, Ars Technica will soon open offices in Chicago and San Francisco. Ars Technica will continue to be managed by Fisher, who will report to Chubb.

"We are delighted to be a part of WIRED Digital and the larger Condé Nast family," Ken Fisher, Editor-in-Chief of Ars Technica said. “The strength of our brand combined with the expertise and resources of WIRED Digital will dramatically accelerate the growth of Ars Technica. Combined, we continue our quest to build an even better resource for our ever-expanding community of readers who not only need to keep up on technology, but are also passionate about it."

The growth of WIRED Digital began with the purchase of WIRED News in July, 2006 from Lycos Inc. and continued with the acquisition of Reddit later that year. More recently, the iconic Web brands Webmonkey and HotWired, returned home to WIRED Digital, in a separate transaction with Lycos.

Terms of the Ars Technica acquisition were not disclosed.

“Condé Nast is committed to continuing to acquire compelling Web sites, especially when they can continue under a founder's leadership, as was the case with Reddit, and now Ars Technica,” Steve Newhouse, chairman of Advance.net, which oversees Web publishing for Advance Publications, Inc., the privately-held parent company of Condé Nast said.

"Ken Fisher and Jon Stokes, like the Reddit founders, had many choices, but we believe we offer something compelling—respectful and supportive ownership. By giving these entrepreneurs the independence to pursue their vision, and adding our tremendous selling and marketing firepower, we believe we can help them thrive in today's competitive online landscape," Newhouse said."

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