The owner of LiveJournal, a blogging and social-networking site, agreed yesterday to sell the company to SUP, a Russian online media company, in the latest example of deal-making in the social-networking sector.Financial terms of SUP’s deal with Six Apart, which owns LiveJournal, were not disclosed.
As part of the deal, SUP will create an American management company, LiveJournal Inc., to manage the social network’s operations. SUP will also form an advisory board that includes Brad Fitzpatrick, LiveJournal’s founder who now works for Google.
Though its biggest user base is the United States, LiveJournal has become exceedingly popular in Russia, finding about 28 percent of its audience there. Last year, SUP struck a licensing deal with Six Apart to manage LiveJournal.ru, the site’s Russian component.
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