With the aim of building its online portfolio, Comcast is acquiring Daily Candy, an email newsletter. Financial details of the acquisition were not disclosed though reports are pointing at $125 million.
The company said the Daily Candy purchase fit well with its cable television properties, including the Style and E! Entertainment channels. Founded in 2000, Daily Candy delivers its email newsletter to 2.5 million subscribers. It was sold by founder Dany Levy to Pilot Group Ventures five years ago for $3 million.
"We're trying to build a large presence online as more and more of our customers look to the Web for entertainment and content. Daily Candy fits right into that strategy," said Sam Schwartz, executive vice president of Comcast Interactive Media.