Daily Beast eying possible sale: report

The media company that owns The Daily Beast is entertaining bids to sell the news and opinion website, according to a CNN report

“IAC has made it known it’s a seller and various outlets are taking a look,” one source told CNN of the possible sale of the site. “They’re shopping to all interested parties.”

Other sources told the network, however, that IAC isn’t necessarily actively looking for a buyer, but is entertaining talks with outside parties that express interest in purchasing The Daily Beast.

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That IAC is eying a potential sale of the Daily Beast comes as digital start-ups face increasingly dire financial strains. Many have failed to reach revenue projections and are experiencing budget shortfalls. 

Mashable, for example, is reportedly being sold for just $50 million to trade publishing company Ziff Davis. Univision is also looking to sell a minority stake in the Fusion Media Group, which includes sites like Gizmodo and The Onion.

According to CNN, part of the problem facing these companies is that Facebook and Google, which together own between 60 percent and 70 percent of the digital ad market in the U.S., have begun taking larger portions of online ad revenue.

But some companies, like BuzzFeed, have invested heavily in their social media presences, without being able to make enough money from the platforms.

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