webcommunities reports that:
The Well, an online community founded in 1985, is to be sold by it’s current owner Salon.com. Salon bought the community in 1999 for US $5 million. Since then, it’s always managed to turn a profit but memberships (costing $120 to $150 per year) have declined from 6000 to 4000 between 1999 and
today.
Salon expects to achieve a sale price of around $500,000 – about the equivalent of one year’s subscription fees. That’s probably a bargain if the members themselves buy the community…
More.