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Geeknet Wants To Sell Slashdot, Freshmeat, Sourceforge

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by Desire Athow
, 12 May 2012News

Days after it launched yet another vertical on its revered geek website, Slashdot, Geeknet has announced that it plans to conduct a review of strategic alternatives for online media business.

These include Sourceforge, Slashdot and Freshmeat, with the first two being amongst the most iconic websites that populate geekdom.

Ken Langone, Chairman and CEO of Geeknet, sdaid in a statement "After much discussion, our management team and Board of Directors have decided to begin a formal review of our media business to realize the full potential of these valuable assets and maximize shareholder value. With more than 46 million total unique visitors last month, our media properties have a large community of engaged users and we are committed to creating the best online experience for them."

Geeknet has stressed the fact that the exploration of strategic alternatives doesn't mean it will end in any sales. It has enlisted the help of "DeSilva+Phillips Corporate Finance LLC as its financial advisor" to assist with the strategic review.

e-Commerce website Thinkgeek, which remains the more profitable arm of the business, is likely to remain in the ownership of Geeknet.

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