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Although the terms of the Knowingly purchase haven’t been made public, sources who looked into buying some or all of the assets said the initial price for the editorial part of the company was $6 million, but eventually that was reduced to $1 million, and still many bidders backed out—in part because the editorial staff had all been let go. That suggests Knowingly likely paid less than $1 million.
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Matthew Ingram
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Can a news site be reborn? Gigaom readers are about to find out
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