A correction has been made in this story. See below for details.
GigaOm, the digital-media company that publishes a popular tech blog of the same name, is buying the digital-media news site PaidContent.org from London-based Guardian News & Media, GigaOM said today. GigaOm, which was founded by Om Malik, also acquired the rest of PaidContent parent company ContentNext Media's assets, including MocoNews.net, ContentSutra.com and PaidContent:UK.
The terms of the deal were not disclosed, though it is believed the sale price was a fraction of the reported $6.5 million that Guardian paid for PaidContent and ContentNext when it acquired them from founder Rafat Ali in 2008. Guardian News & Media, which publishes the Guardian and Observer newspapers, will now take a minority stake in GigaOM.
A GigaOM spokesperson said PaidContent will continue to publish at PaidContent.org for now, but that the company hasn't yet decided whether it will eventually be folded into GigaOM.com. The business and editorial staff of ContentNext is expected to remain with the company.
Both companies operate respected events businesses. GigaOM said it attracts 4.5 million monthly unique users, while PaidContent and the other ContentNext sites registered a little more than 700,000 uniques in January.