UGO Acquired By Hearst, Should Be Announced Today
We got a tip earlier this evening that Hearst acquired New-York based UGO and will announce the deal tomorrow. It sounds like Forbes got a tip as well, and a better one: they're saying the price should be around $100 million. UGO is a popular new media site that was founded in 1997 and, according to Forbes, is generating around $30 million/year in revenue.
Source: http://www.techcrunch.com/2007/07/24/ugo-acquired-by-hearst-should-be-announced-today/
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