Hearst wants to spend some of its billion dollar war chest gaining a foothold in digital media.
What kind of property is it looking to buy? Don’t know. But a source tells us that a banker working on Hearst’s behest tried to tempt the company into acquiring Gawker Media video game blog Kotaku.
The deal fell through, probably because Kotaku is Gawker’s second-most popular blog. To get Kotaku or Gizmodo — a pair of cash cows because of all the gadget and video game advertisers out there — you’d probably have to buy the entire Gawker Media network.
But make no mistake, Hearst IS shopping.