Sunday, 19 May 2024

Scoop: Lifehacker sold by G/O to Ziff Davis

G/O Media

Lifehacker, a website that focuses on tips and tricks for living a better life, has been sold by its parent G/O media to Ziff Davis, sources told Axios.

The big picture: The sale comes amid changes at G/O Media to its portfolio over the past few months.

  • G/O acquired Quartz last summer. It laid off 11 people, roughly 3% of its staff, in December, amid broadly economic uncertainty plaguing the media industry and advertising market.

Details: Staffers were alerted Monday morning that the site would be sold to Ziff Davis for an undisclosed amount.

  • Staffers were called into a meeting with G/O's editorial leadership Mondaymorning where they were told that no employees were losing their jobs as a part of the sale, according to two sources familiar with the meeting.
  • As of Monday at 2:00 p.m. ET, G/O staffers at sister websites had not yet been alerted by management of the sale.
  • Neither G/O Media nor Ziff Davis immediately responded to a request for comment.

Catch up quick: Lifehacker launched in 2005 through its parent at the time, Gawker Media. Univision bought Gawker Media in 2016 for $135 million.

  • It sold those assets under the rebranded name of Gizmodo Media Group to private equity firm Great Hill Partners in 2019, reportedly for less than $50 million. The company later rebranded itself as G/O Media.

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