GAWKER BUYS CITYFILE: Not even a minute after Gawker editor in chief Gabriel Snyder sent an e-mail to colleagues informing them that “I am being canned,” Gawker Media head Nick Denton released a statement of his own, confirming his company has acquired New York news site Cityfile and its founder, Remy Stern, will replace Snyder. Snyder has held the top post at Gawker for some 18 months, during which time he doubled the site’s audience (according to Denton). Snyder wrote: “…the history of Gawker Media careers shows that they tend to burn bright and fast. So it shouldn’t have come as much of a surprise when our mercurial owner told me he’s hatched other plans for Gawker. He [Denton] offered me a new, temporary position as an assistant managing editor of Gawker Media as a holding job, which I have declined.”
Cityfile is Gawker Media’s first acquisition. Stern, a former writer on several Gawker sites and editor at Radar, takes over at Gawker on Monday. He described the acquisition as a “great marriage,” noting Cityfile will be a channel on the site. “We’ve had more serious discussions about this during the past few months,” he told WWD. He said it’s premature to talk about his plans for Gawker, adding he has yet to meet the staff. Denton wrote on the site that to “achieve critical mass in entertainment and tech,” he has looked at a few opportunities during the past few months. He said revenue growth of 22 percent last year “provides the resources” for potential acquisitions.
This story first appeared in the February 16, 2010 issue of WWD. Subscribe Today.