The Huffington Post took $25 million in funding to set a $100 million valuation yesterday. AdAge’s Michael Learmonth points out that makes the Internet’s paper-less newspaper more valuable — on paper, so to speak — than quite a few of the kind printed on dead trees:
The funding means Arianna Huffington’s news blog is now considered more valuable by its backers than quite a few publicly traded newspaper companies, such as Lee Enterprises (LEE), owner of the St. Louis Post-Dispatch and 52 other papers (market cap: $36 million), A.H. Belo (AHC), owner of the Dallas Morning News and the Providence Journal (market cap: $35 million), and Media General (MEG), owner of the Tampa Tribune and Richmond Times-Dispatch (market cap: $34.6 million). It puts Huffington Post in the same league as McClatchy Corp. (MNI), owner of the Sacramento Bee, Miami Herald and 28 other dailies (market cap: $150 million).
Update: Learmonth didn’t inlude debt or cash in his back-of-the-envelope analysis — and newspapers have lots of the former — so these valuations aren’t exact, but still give you the general picture.