AllThingsD Editors Introduce Re/code Site With Backing of NBC
The site will be operated by a new media company named Revere Digital, with the backing of NBC Universal and Windsor Media, according to a statement today. As part of the agreement, Revere journalists will appear on CNBC, MSNBC, the "Today" show and other outlets owned by Comcast Corp.'s NBC Universal.
Re/code faces an increasingly competitive market for technology coverage, including a fresh site from News Corp.'s Wall Street Journal. News Corp. is replacing AllThingsD with WSJD, which will have a similar combination of news and conferences. WSJD plans to host a global conference in Laguna Beach, Calif., in October.
"We made a strategic decision last year to invest heavily in technology coverage," Wall Street Journal Editor-in-Chief Gerard Baker said yesterday in an online statement. "WSJD represents the first fruits of that investment. No topic is more important to our readers than tech."
Ms. Swisher and Mr. Mossberg agreed to cut ties with News Corp. in September and sought investors for the new startup, which they valued at about $25 million to $35 million, people familiar with the matter said last year. The two editors couldn't agree to terms with News Corp. to retain the AllThingsD brand, according to the people.
Ms. Swisher and Mr. Mossberg are serving as co-chief executive officers of Revere, which will include a global conference business. As part of the deal, the business-news channel CNBC will become a media partner for the conferences.
Its main event, called the Code Conference, will be held in May in Rancho Palos Verdes, Calif.
~ Bloomberg News ~