Glam Media signs video deals and rejects USD1.3bn buyout offer - Rumour

Thu May 29 2008, 09:55 AM

Glam Media, a firm which owns and operates a network of 500 women's lifestyle websites and blogs, has signed a number of distribution deals for the launch of its video and ad platform. GlamTV, which goes live this week, will offer content produced by Sony BMG, E! Online and Lifetime Networks across the network of Glam sites. Video content will be packaged with ads and targeted for each site's specific audience

The move comes as rumours emerge that Glam has received a USD1.3bn buyout offer. The firm received the offer within the past week, but is unlikely to accept, reports VentureBeat, citing a source close to the company.

Through its network of sites and publishers, Glam Media claims to have a total audience of 35m unique users in the US. The firm is backed by various investors including Accel Partners, DAG Ventures and Draper Fisher Jurvetson, and reportedly raised USD85m in funding last Feb, based on a USD500m valuation.