With CNET being bought by CBS Corporation, TechCrunch is reporting and has confirmed that Ars Technica has been bought by Condé Nast, the publisher of Wired Magazine and the New Yorker.
Ars Technica will run under Wired Digital, joining Wired’s online site Wired.com and Reddit (acquired in 2006). Pricing was not disclosed, but sources told TechCrunch that it was in the $25 million range, the same price when Condé Nast bought Wired.com from Lycos, reuniting the magazine and the website.
As well, Federated Media Publishing, which handles advertising for many sites including TechCrunch and GigaOm, will lose Ars Technica as a client, Condé Nast will take over advertising sales. Another popular site, Digg, left in 2007 Federated Media after accepting a Microsoft deal that will pay over $100 million over three years.
Ars Technica was founded in 1998 by Ken Fisher and Jon Stokes. They, including their eight or more employees, will remain with the company.