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An anonymous reader quotes a report from Recode: The New York Times is buying The Wirecutter, a five-year-old online consumer guide. The Times will pay more than $30 million, including retention bonuses and other payouts, for the startup, according to people familiar with the transaction. Brian Lam, a former editor at Gawker Media's Gizmodo, founded The Wirecutter in 2011, and has self-funded the company's growth. The Wirecutter provides recommendations for electronics and other gadgets that are both obsessively researched and simply presented. The Wirecutter also owns The Sweethome, which takes the same approach for home appliances and other gear. "We're very excited about this acquisition on two fronts," said Mark Thompson, CEO of The New York Times Company, in the acquisition release. "It's an impressively run business with a very attractive revenue model and its success is built on the foundation of great, rigorously reported service journalism." The Wirecutter tweeted earlier today: "Hey, we're still us. But we're a part of The New York Times now."

HughPickens.com writes: Many news organizations, facing competition from digital outlets, have sharply reduced the size of their newsrooms and their investment in news gathering but less than four-and-a-half years after launching its pay model the NY Times has increased coverage as it announced that the Times has passed one million digital-only subscribers, giving them far more than any other news organization in the world. The Times still employs as many reporters as it did 15 years ago — and its ranks now include graphics editors, developers, video journalists and other digital innovators. "It's a tribute to the hard work and innovation of our marketing, product and technology teams and the continued excellence of our journalism," says CEO Mark Thompson.

According to Ken Doctor the takeaway from the Times success is that readers reward elite global journalism. The Wall Street Journal is close behind the Times, at 900,000, while the FT's digital subscription number stands at 520,000. "These solid numbers form bedrock for the future. For news companies, being national now means being global, and being global means enjoying unprecedented reach," says Doctor. "These audiences of a half-million and more portend more reader revenue to come."

clafarge writes "Three days after Adrian Lamo was charged with hacking, he surrendered himself to marshals at the federal courthouse in Sacramento. This according to a story on the AP's LiveWire. He's accused of causing 'more than $25K damage to New York Times Co.,' and performing LexisNexis searches on his own name to the tune of $300K! I always find it interesting that so little tinkering can cause so much 'damage' (if you didn't get that wink, read the article about the nature of the 'damage'). He's in his parents' custody on $250K bail." webmaven adds links to the same AP article carried by Wired, InfoWorld, and C|Net, and points out that more coverage can be found via Google News. He writes: "Adrian negotiated the terms of his surrender, which included the charges in the warrant issued against him being disclosed."