Sold! ConHome & PolHome valued at £2.3m
Lord Michael Ashcroft spent £1.3 million pounds to buy 57.5% of ConservativeHome, Liberal Conspiracy can reveal.
That would value ConservativeHome, PoliticsHome and ConservativeIntelligence at around £2.26 million.
The figure was confirmed to Sunder Katwala by Freddie Sayers from PoliticsHome.
He said in an email:
The new company will receive a capital injection of £1.3m. It will enable us to improve and expand the site hugely and I am really exicted about it.
Today Andrew Rawnsley, a columnist at the Observer said he had resigned from PoliticsHome due to Lord Ashcroft’s majority-stake buyout.
More at Next Left.
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Sunny Hundal is editor of LC. Also: on Twitter, at Pickled Politics and Guardian CIF.
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Reader comments
What a waste of money. A blog and a news aggregator, worth £2m?
PoliticsHome was always more than just a news agregator.
I used it quite a lot for polls, opinion etc.
and insofar as it was a news aggregator, the “intelligent filtering” approach was very good and took you to lots of good article you might otherwise miss.
Maybe it will continue the same, but with the mass-resignations from the PHI panel, i’m worried that it can’t…
“That would value ConservativeHome, PoliticsHome and ConservativeIntelligence at around £2.26 million.”
Surely they can’t seriously have ever really been worth that? Is this a donation dressed up as business?
Bur let’s assume it is a true market price. What fraction of the £2.26m do we think was the supposed value of PoliticsHome, and what do we think is the value of PoliticsHome tonight post-resignation avalanche as a fraction of what it was worth this morning?
(Or: How much have Sunny et al cost Ashcroft in a single day?)
I would definitely give you £2,300 for LC
But all of the contributors would resign, despite my assurances of editorial independence.
Ha – I bet it’s not valued at £2.26m now!
The real control freaks have begun.
Can just say that I think the term valuation is misleading…
Let’s just say it’s more likely to approximate the financial burn between now and the next election (and probably beyond) than any intrinsic value the sites may have themselves…
What you are witnessing now chaps, is that strange suck of the tide before the Tory online tsunami hits… If I were you, I’d be less for gloating and more for getting prepared for the ‘battle’ (or slaughter) to come…
I never knew that there was a site called Conservative Intelligence. How oxymoronic.
Is there an analysis anywhere, based on Politics Home visitor rates and advertising income, on which a valuation of Politics Home might be based?
The hun are here
@9 “the term valuation is misleading…let’s just say it’s more likely to approximate the financial burn between now and the next election (and probably beyond) than any intrinsic value the sites may have themselves”
Ah! Good point. Thanks for that
Reactions: Twitter, blogs
- Leon Green
RT @pickledpolitics Exclusive! RT @libcon Sold! £2.3m for ConHome & PoliticsHome http://bit.ly/BKQ2p
- Liberal Conspiracy
Article:: Sold! £2.3m for ConHome & PoliticsHome http://bit.ly/BKQ2p
- sunny hundal
Exclusive! RT @libcon Sold! £2.3m for ConHome & PoliticsHome http://bit.ly/BKQ2p
- Tweets that mention Liberal Conspiracy » Sold! £2.3m for ConHome & PoliticsHome -- Topsy.com
[...] This post was mentioned on Twitter by Liberal Conspiracy. Liberal Conspiracy said: Article:: Sold! £2.3m for ConHome & PoliticsHome http://bit.ly/BKQ2p [...]
- Leon Green
RT @pickledpolitics Exclusive! RT @libcon Sold! £2.3m for ConHome & PoliticsHome http://bit.ly/BKQ2p
- Labourhome » Blog Archive » Left unites, Lord Ashcroft loses £500,000.
[...] he decided to spend £1.3m buying 57% of ConservativeHome, ConservativeIntelligence, and [...]
- devolute
Politicshome is worth £2.3m (http://tr.im/zub3) & they have 130 mark-up errors. Some web devs have it easy.
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