Time Buys Hello Giggles For $20 Million

Time Buys Hello Giggles

Seeking to broaden its appeal to younger women, Time Inc. has snapped up Hello Giggles Inc., operator of the pop-culture, beauty and lifestyle website HelloGiggles.com. It is the latest in a series of digital acquisitions aimed at bolstering the reach of Time Inc.’s most important magazine brands.

Terms weren’t disclosed. One person familiar with the purchase suggested it was in the range of $20 million.

HelloGiggles.com is being folded into Time Inc.’s People and Entertainment Weekly group but will continue to operate from downtown Los Angeles. The website, much like People magazine, presents itself as a home for celebrity-friendly, snark-free stories.

The acquisition is the first major move by Rich Battista, the veteran media executive who earlier this year joined Time Inc. as executive vice president and president of People and Entertainment Weekly. People is Time Inc.’s flagship publication, accounting for nearly 18% of total company revenue in 2014, according to a federal filing.

Popular in the Community

Close

What's Hot