The New York Times just announced that it has acquired The Wirecutter and its sister publication The Sweethome.
The sites were founded by former Gizmodo editor Brian Lam, who The Times says will stay involved in an advisory role. Ben French of The Times’ Beta development team will serve as interim general manager, while Jacqui Cheng and Christopher Mascari will remain on-board as editor in chief and product director, respectively.Most TechCrunch readers are probably familiar with The Wirecutter already (particularly since we syndicate some of their stories), but for those who aren’t: It offers gadget guides that are focused on helping readers find the best product in a given category, whether you’re looking for a laptop or a standing desk. The Sweethome does the same thing, but for products around the home.
“We’re very excited about this acquisition on two fronts, “said Mark Thompson, CEO of The New York Times Company, in the acquisition release. “It’s an impressively run business with a very attractive revenue model and its success is built on the foundation of great, rigorously reported service journalism.”
The Times isn’t saying anything about the price, except that it was an all-cash deal, but Recode’s Peter Kafka (who broke the news about the acquisition) said The Times will pay more than $30 million.
[Source:-TC]