Bustle owner BDG Media is buying Some Spider Studios, the digital-media company behind Scary Mommy and other parenting websites, as it prepares to strike a deal later this year to go public
The all-stock deal for Some Spider values the publisher at about $150 million, according to a person familiar with the matter.
Mr. Goldberg said in an interview that the deal would expand BDG Media’s business and give it additional clout with advertisers. BDG Media is profitable and on pace to generate about $120 million in revenue this year, according to people familiar with the matter. Some Spider expects to generate around $50 million in revenue this year and is on track to turn a profit of about $10 million, one of the people said.
Mr. Goldberg’s company has struck a series of deals to buy rival websites in recent years as part of its plan to go public. The company has acquired the youth-focused sites Mic and Elite Daily, fashion publication W Magazine and the science outlet Inverse.
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