n the latest old-media purchase of a new-media property, Conde Nast Publications has acquired Reddit.com, a news aggregator that allows users to suggest and rank online content. The site is similar to others in the category which allows users to determine which stories and links should be given the most prominence on a lead web page.

With this acquisition, Conde Nast is mobilising its digital profile, especially since Reddit.com is different from other destination sites such as Style.com and magazine companions such as VanityFair.com that the group has emphasised so far. Internal figures say Reddit attracts some one million unique visitors each month, but traffic has been doubling every two or three months.... more