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Bad news about Kotaku... This will come as a blow to many here I'm sure .... Kotaku has been sold to Gizmodo owner Keleops and will not only continue, but expand.
G/O Media has sold gaming news site Kotaku to Keleops, the European media company that acquired its tech news site, Gizmodo, about a year ago.
Why it matters: The sale leaves G/O Media with only one remaining property, Black culture site The Root, marking the near-complete unraveling of its once broad portfolio.
Zoom in: Kotaku's editorial staff will remain and Keleops plans to hire more senior talent, echoing its approach with Gizmodo, CEO Jean-Guillaume Kleis told Axios.
Kleis declined to share the purchase price of the all-cash deal. He said in the short term he had no immediate strategy shifts as he hadn't yet met with Kotaku's editor-in-chief.
"I like to trust people, and I know that people in this industry have really good ambitions," Kleis said. "The market is really challenging, but I know they want to do their best."
G/O Media CEO Jim Spanfeller told Axios in an email, "We are very happy that we were able to find a great home for Kotaku and its entire staff. We wish the team and Keleops only the best."
G/O Media has sold gaming news site Kotaku to Keleops, the European media company that acquired its tech news site, Gizmodo, about a year ago.
Why it matters: The sale leaves G/O Media with only one remaining property, Black culture site The Root, marking the near-complete unraveling of its once broad portfolio.
Zoom in: Kotaku's editorial staff will remain and Keleops plans to hire more senior talent, echoing its approach with Gizmodo, CEO Jean-Guillaume Kleis told Axios.
Kleis declined to share the purchase price of the all-cash deal. He said in the short term he had no immediate strategy shifts as he hadn't yet met with Kotaku's editor-in-chief.
"I like to trust people, and I know that people in this industry have really good ambitions," Kleis said. "The market is really challenging, but I know they want to do their best."
G/O Media CEO Jim Spanfeller told Axios in an email, "We are very happy that we were able to find a great home for Kotaku and its entire staff. We wish the team and Keleops only the best."
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