Nikki Finke has sold her US media and entertainment industry news blog, Deadline Hollywood Daily, to Mail Media Corporation in a deal reported to be worth as much as $15m (£9m).
Typically, Finke, the former Newsweek, Los Angeles Times and New York Magazine writer broke news of the sale to MMC yesterday on her own blog, saying the deal would see her become general manager and editor-in-chief. However, she did not reveal the terms.
The Wall Street Journal reported "industry insiders" saying the deal was worth $10m while the Financial Times said the deal was "worth about $15m".
LA-based MMC's purchase of the Deadline Hollywood Daily website adds to its growing roster of entertainment websites. MMC also owns Movieline.com and Hollywoodlife.com.
Finke started the blog as a 24/7 version of her "Deadline Hollywood" column for the LA Weekly. The blog came to prominence during the Hollywood writers' strike in 2007.
Since launching three years ago Deadline Hollywood Daily has become required reading after breaking a succession of industry stories, often scooping established Hollywood titles Variety and Hollywood reporter, making Finke one of the US's foremost entertainment business journalists.
Jay Penske, the chairman and chief executive of MMC, praised Finke as a "world-class journalist" and a leading authority on Hollywood, saying the purchase would allow the site to expand its audience reach and influence.
