Om Malik's GigaOmni Media Raises $1 Million

Slowly but surely, a handful of blog networks have become real businesses. PaidContent, Beet.TV, et al, report that Om Malik’s GigaOmni Media just closed a $1 million second round, which presumably will fund at least another year of development. The company produces GigaOm, NewTeeVee, and other blogs, and, like many small web tech publishers, has moved into events.

Next up for these and other networks? Consolidation. Specifically, blog networks buying each other (or otherwise combining forces) and blog networks selling out to traditional media and Internet companies.

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