In a post this afternoon, Om Malik has confirmed rumors of an impending purchase of paidContent. Om chalks the investment up to modernization and expansion, alluding to the increasing number of independent writers as a cause for defensive change for large media outlets. Om writes:
I have always believed that we’ve got to stop thinking of media as what it was and focus on more of what it could be. In the world of plenty, the only currency is attention and attention is what defines “media.” Zynga is fighting Hollywood for attention (and winning). Instagram is taking moments away from other media. They have attention. There are old companies that are dying and new ones that are being invented. We’re eager to expand our coverage of social and digital media editorially, in our research and at our events. paidContent is the best chronicler of the media industry, and by blending their coverage with ours, we hope to watch this fast-changing industry ever more closely.
Om has done some fantastic things with GigaOM, and I wish him and his team all the best with the purchase. Here's hoping the site continues to grow in the coming years.