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AOL buys Weblogs Inc.

AOL buys Weblogs Inc.

Jason Calacanis’ Weblogs Inc.,has been bought by AOL.

According to PaidContent (who has broken the story) the deal is done and should be announced this week.

Among the other companies Weblogs Inc talked to included News Corp, Yahoo and MSN.

The purchase is the first major acquisition of a blog network by a mainstream media company.

Dollars have not been confirmed at this stage but are believe to be somewhere between $15 million and $35 million.

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Congratulations to Jason Calacanis and the Weblogs Inc., team.

update: Reuters reports the sale was for $25 million.

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