UK publication The Kernel, the self-described "Internet tabloid" founded by journalist and entrepreneur Milo Yiannopoulos in 2011, has been acquired by Daily Dot Media, publisher of online newspaper The Daily Dot.
Financial terms of the acquisition were not disclosed, but it is our understanding that "select" editorial staff will make the transition over to The Daily Dot to keep on producing pretty much the same content The Kernel has been putting out there since its relaunch last Summer.
Yiannopoulos (pictured above), who founded The Kernel and served as its editor-in-chief, will hang around as an "advisor" but will move on to - as the cool kids say - pursue other opportunities.
Details on how the two publications will be actually integrated, and how some of The Kernel's assets will be rolled into Austin, Texas-based Daily Dot Media's operations, remain murky.
According to a press release, The Kernel will continue largely as is for the immediate future, focused primarily on its broad coverage of Internet culture. That mission resembles The Daily Dot's very closely, which is obviously largely why this transaction is happening in the first place.
Initially launched in November 2011 in an effort to "fix European tech journalism", The Kernel was previously owned by Yiannopoulos's company, Sentinel Media. In 2012, the online magazine became embroiled in legal disputes with some of its contributors after it failed to pay money owed to them.
Around this time last year, The Kernel suspended publication over the ordeal, and its assets were later taken over by an outfit named BERLIN42, also the company behind the Hy! event series in Germany.
Following an undisclosed capital injection, The Kernel was relaunched under a new publishing company dubbed Kernel Media, albeit with a different editorial focus, in August 2013. It currently has eight permanent editors on staff in London, UK.
Yiannopoulos claims The Kernel attracted some 500,000 monthly unique visitors.
Its new owner Daily Dot Media's flagship publication, The Daily Dot, is billed as "the paper of record for the World Wide Web" and focuses on stories about the broader 'Internet community'.
According to the press release announcing the acquisition, the site reaches approximately 7 million people per month. The purchase of The Kernel effectively marks The Daily Dot's entry into the UK.
Daily Dot Media CEO Nick White comments:
“Our vision is to house the Internet’s most insightful coverage under one roof and infuse unflinching standards of journalistic excellence with the format and distribution methods that resonate with our connected, progressive audience.
The Kernel and The Daily Dot will produce hard-hitting news, features, and investigative reports from all corners of the brave new digital world. We’re excited about the future potential for The Kernel in the DDM family.”
Featured image credit: Le Web / Flickr