Monday, August 22, 2011
Demand Media Spends $707K On Spanish Language Firm
Santa Monica-based Demand Media has issued $707,254 in stock as part of the acquisition of a company, according to a regulatory filing from the firm Monday. According to the filing, the firm issued $707,254 in equity, in conjunction with a merger or acquisition on July 1st. Demand had revealed in its 10Q earlier that it had acquired an un-named firm which specializes in the creation of Spanish and Portuguese language media content. Name of the acquired firm was not announced, however, sharp Demand Media observers had already noted that the firm is Buenos Aires, Argentina-based Emerging Cast -- now being run as Demand Media Studios Espanol. It's unclear if the deal also included additional consideration. The acquisition looks to be smaller than the two most recently announced acquisitions by Demand Media, of Los Angeles-based IndieClick and El Segundo-based RSS Graffiti. Buried in Demand Media's last quarterly results were the total acquisition costs for RSS Graffiti--for $16,367,000-and IndiClick Media--a grand total of approximately $14,000,000. (Editor's note: we've corrected the amount of the RSS Graffiti and IndiClick acquisitions, which were difficult to decipher from the 10-Q).