Hearst buys UGO Networks

Cory Bergman July 23rd, 2007

In the latest media acquisition of a technology company, Hearst has purchased UGO Networks for around $100 million, reports Forbes. UGO is a network of young male-targeted websites that brings in 11 million uniques a month. “CEO J. Moses has been trying to sell his company for more than two years,” writes Erika Brown in Forbes. “Just about every media giant out there has taken a look at the deal, and then taken a pass.” But for UGO, persistence has paid off. (Via PaidContent)