The Guardian Media Group has put its PaidContent website up for sale, with a price tag of $20 million.
The company announced that it was in talks with several potential buyers to sell ContentNext Media, the company which manages PaidContent and three other online properties.
According to an article on Reuters, Guardian News and Media, part of the Guardian Media group, had purchased Content Next Media back in 2008. Guardian News and Media is the division which runs notable newspapers like The Guardian and The Observer.
GNM reportedly purchased Content Next Media for a speculated amount of $30 million and hopes to get back the money it has invested from the acquisition. The sale of the company is being handled by Coady Diemar Partners, which has valued Content Next Media between $15 million to $20 million.
"Following a strategic review Guardian News & Media has decided to seek a buyer for ContentNext Media," stated The Guardian Media Group.
"ContentNext is a high-quality asset, but our focus in the U.S. is on building the Guardian. It's early days but we have received several expressions of interest and are talking to a select number of potential buyers," it added.