From Felix Salmon:
Most of the value of Gawker Media lies in Hungary—but how much value is there, really? To a large degree that depends on what Denton decides to do with his proprietary technology. Other blogging platforms are worth nine-figure sums—Tumblr just got a valuation of $135 million, while Automattic, the parent of WordPress, turned down a $200 million acquisition offer three years ago, when it was much smaller than it is today, and subsequently raised money at a valuation north of $150 million. I know a lot of people at big media companies who struggle with the limitations of WordPress, and who would pay good money to license an alternative web publishing technology, if it was robust and proven. Big companies are already licensing the NYT’s Press Engine mobile-publishing technology, and it’s rumored that at one point Denton was talking to Bonnie Fuller about licensing his technology to her nascent website, although that never happened.