Discovery Communications Acquires Treehugger
Posted on August 7, 2007Discovery Communications has acquired Treehugger<, a popular green news blog founded by Graham Hill. The blog is currently ranked 19th on Technorati and receives 1.4 million visitors per month. Treehugger will become part of Discovery's Planet Green TV network that will launch in 2008.
Discovery Communications, the number-one nonfiction media company, today announced the acquisition of the leading eco-lifestyle website, TreeHugger.com. The interactive site becomes part of Discovery's global multiplatform initiative Planet Green, which includes the first 24/7 eco-lifestyle TV network launching in 50 million homes in early 2008.Terms were not disclosed but a paidContent post says TreeHugger was acquired for around $15 million. Other sources have put the acquisition figure at $10 million. Discovery wasn't the only company that had approached the popular green blog. In a post on its site TreeHugger says they were "approached by over 15 large companies" over the past year.
The deal brings TreeHugger.com's rich mix of news, blogs and advice to Planet Green and furthers Discovery's previously announced goal of developing original programming related to the environment, sustainable development, conservation and organic living. In acquiring TreeHugger.com, Discovery is pursuing its multiplatform strategy of being the leading content provider across nonfiction genres around the world. The transaction will not have a material impact on earnings in year one.
In addition to its blog, TreeHugger also has forums, audio and video podcasts, and owns the Digg-like Hugg.com website. Still $10 to $15 million is very impressive for a blog plus a few extras. It was just a couple years ago that the entire Weblogs, Inc. blog network was sold for about $25 million to AOL. Nick Denton who has not sold his Gawker Media blog network is listed as one of the people on TreeHugger's Board of Advisors.