CNN Buys Zite For $20 - $25 Million

CNN  just issued a press release confirming its acquisition of Zite, maker of the customizable iPad news app released on March 8, 2011.  Zite was reportedly paid between $20 - $25 million. A transaction was rumored to be in the works after Canadian website Techvibes published a story on August 22, 2011 saying  the two companies were in discussions. According to CNN's press release:  

“Zite represents the next generation of content discovery and personalized publishing, and CNN wants to help lead in that space,” said KC Estenson, general manager of CNN Digital.  “We think we can advance the industry in a meaningful way that helps content creators expand their businesses while growing the distribution of a product that people already love.  The Zite technology can also help CNN's Websites and apps serve more personalized content, making our current digital services even better.”

  We raved about Zite in our March 11, 2011 review of the app saying it "is a wonderful personalized magazine delivering specific content based on your preferences, reading habits and by analyzing your Twitter and/or Google Reader accounts." We see the value in CNN taking Zite's technology and spreading it across their website and app properties.  In a world becoming increasingly cluttered with information, users need tools to deliver the information that is most important, pertinent and interesting to them.  From what we've seen, Zite's technology is a big step in the right direction.  On the other hand, we hope CNN doesn't attempt to force its news content through Zite to its users because that defeats the original purpose and value of Zite. Pick up Zite in the App Store:  Zite