The founders of Journalism Online, launched in 2009 to help newspapers monetize their online content, have cashed in on their investment.
Media vets Steven Brill, founder of American Lawyer magazine and Court TV, and L. Gordon Crovitz, former publisher of the Wall Street Journal, sold the start-up digital company to printing services firm RR Donnelley & Sons Co. The terms of the deal were not disclosed, but paidcontent.org reports it’s in the $35 to $45 million range.
According to Reuters, both men will remain with Journalism Online.
About two dozen customers, including MediaNews Group, currently use the company’s system Press +, which allows publishers to charge for content in various ways, including day or week passes and monthly subscriptions.