According to an item in this week’s New York magazine, (which Wonkette also picked up on) it looks like The Washington Post Company will be bringing the popular online magazine Slate under its umbrella. The magazine’s Intelligencer column reports the following :
The Washington Post Company is said to be close to buying dot-com survivor Slate. Microsoft put the Webzine up for sale in July, saying it was looking to find an owner where the rest of their businesses are more aligned…In any case, the talent pool, and Slate’s smart-people-procrastinating-at-work readership, is part of what is said to attract the Post…
The Washington Post Company, most notably, publishes the Washington Post, also has a hand in Newsweek magazine, and owns a handful of TV stations.
Interesting, yes, but the WashPo Company’s buyout of Slate isn’t all that surprising once you think about it. Slate, as well as Newsweek, are both part of the Microsoft network, which has an existing partnership with the Company. Like any good media conglomerate, it will all be staying within the family. And it isn’t like the WashPo Company is taking a huge risk here either, as Slate seems to be breaking even with $6 million in revenue. What irkes us most though, is that the NYTimes reporortedly already passed on the offer to buy Slate. Poor Slate, being shuffled around from suitor to suitor like the homely sister no one wants. We’ll still read you no matter where you end up!
Also, we’ll take that “smart-people-procrastinating-at-work” as a compliment, thank you very much.
(DCist wants to thank a loyal reader for the tip!)