So says a WSJ report, which first reported on $100 million asking sale price: culture site/newsletter Daily Candy has pulled itself off the auction block, and instead secured a minority investment that values the business at about $130 million, the story says. The site is owned by an investment group led by Bob Pittman.
Some potential buyers—WSJ story says the potential buyers included NYT, Hearst and others—were concerned about the viability of its margins as the company continues to expand.
Related:
—The DailyCandy Valuation-Inflation Gang
—Daily Candy Goes On Auction Block; $100 Million Or So Tossed Around As Price