Nick Denton’s Gawker Media has sold its “Consumerist” blog to Consumer Reports, a source says. We estimate the purchase price was about $1-$2 million, cash (Peter Kafka puts the price at $500,000 or so).
Consumerist contributed about 4% of Gawker’s total network pageviews and less of the network’s revenue. The remaining network will likely recoup these pageviews in about a month through organic growth of its remaining properties.
Gawker is also in serious talks with at least one party about selling its celebrity gossip blog, Defamer.
After selling three sites last summer (Wonkette, Gridskipper, and Idolator), folding Valleywag into Gawker.com, and selling Consumerist and Defamer, Gawker’s network will consist of 9 healthy properties, each with more than 1 million monthly uniques. The company’s recent cost cuts, combined with the trunks of cash it will receive from Consumerist and Defamer sales, sets it up well to power through the Depression.