NowPublic sold for $25 Million

PaidContent’s David Caplan is reporting that Vancouver’s NowPublic has been sold for $25 Million.

You’re reading it here first: After several months of trying to get the deal done, Citizen-J site NowPublic is about to be sold to a non-traditional buyer: local news network, which is controlled by Philip Anschutz’s Clarity Media Group, we have learned. The price is around $25 million range, according to a source, including a part of that as an earnout. Also from a source, the other potential buyers included AP, Fox News, Glam Media and even Technorati, though not clear who all were interested in late stages.

NowPublic was started in 2005 and has raised about $12 Million from investors such as Rho Ventures, Brightspark and the Working Opportunity Fund.

It looks like NowPublic has up for sale since we speculated that CanWest might be interested.

Congrats to Co-founders Leonard Brody and Michael Tippett on the exit. It should be interesting to hear what Broday has to say during his upcoming keynote at the BC Innovation Council’s Connect 09 conference.