Tuesday, July 11, 2006

Wired Gets Re-Wired

Conde Nast Publications, owner of WIRED magazine, has gotten re-wired, as the magazine publisher and LYCOS said today they have reached a deal to sell Wired News for $25M to Conde Nast. LYCOS, which acquired Wired in 1999 as part of a stock swap worth $83M, said that it made sense to transfer Wired News to Conde Nast because Wired News and WIRED Magazine have always been synonymous. The magazine and the web site split in 1998 when Wired ventures sold the magazine to go fully online.