UGO Acquired By Hearst, Should Be Announced Today

We got a tip earlier this evening that Hearst acquired New-York based UGO and will announce the deal tomorrow. It sounds like Forbes got a tip as well, and a better one: they’re saying the price should be around $100 million. UGO is a popular new media site that was founded in 1997 and, according to Forbes, is generating around $30 million/year in revenue.

They spring up in rumors often as a company that makes the rounds trying to sell itself, and a lot of companies have passed on them, at this price. The company has raised $82 million in capital.

Not much growth recently – total worldwide uniques to the site are just 11 million/month according to recent Comscore stats, up from 8.5 million a year ago.