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Demand Media is selling humor site Cracked to E.W. Scripps for $39 million.
Cracked was founded in 2005, but the brand had preexisted in magazine form since 1958. The comedy site has 40 employees, and generated $11 million in revenue last year, according to re/code.
The cash sale “significantly strengthens our balance sheet, and positions us to drive profitable growth moving forward,” Demand CEO Sean Moriarty said in a statement.
Scripps started in 1878 as a newspaper company and last year purchased podcasting producer/distributor Midroll for at least $50 million.