Wednesday, April 30, 2008

Is an era ending? Media mogul sells blogs

It didn't rank up there with Alan Greenspan's famed caution about "irrational exuberance" a decade ago, before the dot-com bubble burst and wiped out trillions in paper wealth, but Nick Denton's warning the other day caused people to take notice.

Denton is a new-media mogul -- an Oxford-educated former financial journalist who's become fabulously wealthy off his collection of popular blogs. The Sunday Times of London estimated his wealth last year at about $290 million. His New York-based Gawker Media operates several of the most busily browsed Web logs, whose daily readership would rank among the top newspapers in the country.

So news this month that Denton was selling three blogs raised eyebrows. [Click for MORE] Sphere: Related Content

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