Specialty website operator MMC – formerly known as Mail.com Media Corp. – is getting out of the email business by selling its Mail.com and related properties to a German company.
The Los Angeles company on Tuesday did not disclose how much United Internet Group, based in Montabur, which is northwest of Frankfurt, was paying for the businesses, but tech blogs cite sources saying MCC is receiving $50 million to $100 million. Mail.com accounts will migrate to United Internet’s GMX platform but keep the more marketable mail.com domain.
MCC, which plans to rebrand itself as a new-media company, operates specialty Internet sites such as OnCars.com, entertainment industry blogger Nikki Finke’s Deadline.com, and Bonnie Fuller’s HollywoodLife.com. MMC and United Internet have agreed to partner on new sites in international markets such as Germany and India, where MMC is in a joint venture for the India.com web site.
Mail.com was re-launched by founder and Chief Executive Jay Penske in 2007, but began acquiring online publishing and content sites in late 2008. “Although the branding of MMC will be changing, all aspects of our corporate vision, strategy, business operations, events, and content properties remain unchanged — now with an even greater focus on expanding the portfolio of published content properties," Penske said in a statement.
For reprint and licensing requests for this article, CLICK HERE.