Jupiter Media buys Mediabistro for $23 million

Juperter Media has agreed to pay $23 million to purchase journalism job site Mediabistro. The site, which was founded in 1996 grew out of a series of parties founder Laurel Toby had been throwing since 1993 for media professionals.

Now Mediabistro is more than just a site for job listings. It's also a clearinghouse of news about journalism and media jobs. For a subscription fee, users can also get premium content including enrollment in seminars on writing and other topics.

Mediabistro's been on the market since last year, with a $25 million asking price. Once the numbers get above $.02, our heads hurt, so we'll leave it up to you to decide if Jupiter came close to meeting that figure.

Touby will stay on as a senior vice president of the company.

Tags: journalism, jupiter media, JupiterMedia, mediabistro