Tuesday, May 18, 2010
Tsavo Media Sold For $75M
Los Angeles-based online media firm Tsavo Media, which was founded by Mike Jones, founder of Userplane and current co-President of MySpace, has been sold for $75M to a Canadian firm. According to Toronto-based Cyberplex, it is acquiring Tsavo and its 300 consumer websites for $75M. Cyberplex said that Tsavo had 2009 revenues of approximately $110M and EBITDA of approximately $16.7M, and was generating over 30 million unique visitors per month. Tsavo was backed by American Capital.