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Comcast Buys DailyCandy for $125M

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Aug 6, 2008 

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Kathleen  |

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Comcast Buys DailyCandy for $125M

ADOTAS – Comcast has reportedly gobbled up DailyCandy for $125 million — $50 million more than the amount industry sources previously speculated the company would pay.

Montgomery & Co. ran the bidding process (Viacom was also reportedly wrangling for the bubbly, female-focused newsletter). DailyCandy was snapped up for about $3 million in 2003 by Pilot Group Ventures.

Bob Pittman, head of Pilot Group Ventures, sent out a congratulatory missive to the newsletter’s staff that reads in part:

“I have been associated with the start-up, turnaround or acceleration of many companies and major brands, and rarely have I seen the kind of creativity, commitment and passion I’ve seen day in and day out at DailyCandy. And the results speak for themselves: since we made our investment in 2003, subscriptions have grown from just over 200,000 to over 2.5 million.”

Tags: Acquisition, comcast, dailycandy, finance, internet-marketing-advertising, Merger, montgomery-&-co., Pilot-Group-Ventures, revenue and viacom

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