More often the subject of buyout speculation ourselves, we turn that on end today by announcing our first ever acquisition. The property is CityFile, a modern social registry or 'who's who' of New York society and media.
CityFile's content will be folded into Gawker as a supporting section (like Defamer and Valleywag). Gawker will continue its trajectory as a leading cosmopolitan news and entertainment title.
In response to speculation about future acquisitions, Publisher Nick Denton notes, "it's usually more effective to build than buy." So don't expect a wallet binge.
Read more as the story evolves at BusinessInsider.
Update: WSJ is on the story.
