US media firm NBC Universal takes stake in AllThingsD, which is set to change name -report
Comcast's NBC Universal (NBCU) agreed to acquire a minority stake in AllThingsD (ATD), a tech-news webste. The latter is set to be redubbed "Revere Digital" after its split from News Corp's Dow Jones & Co this month. This was according to a report published by Bloomberg, wrote Variety.
In September, ATD founders Kara Swisher and Mossberg announced they will be going their separate ways by the end of this year. After the split, Dow Jones will continue to hold the rights to the ATD brand, the report explained.
ATD's principals are currently in talks with another partner about acquiring a stake in the digital publishing venture, Bloomberg said. The venture tentatively expects to reveal its new investors on January 2, the report stated.
According to Bloomberg, ATD valued itself between USD25 million and USD35 million when it first approached investors in September. The digital news site has been profitable under Dow Jones. Bloomberg cited anonymous sources which said the ATD website, together with the digital conferences it hosts, generates a yearly revenue of USD14 million and profit of USD5.5 million, Variety reported.