Steven Brill, chairman-ceo both at Brill Media Ventures and Primedia-owned specialist media publisher Media Central, is thought to have agreed a deal to acquire Powerful Media, owner of Inside magazine and

Details of the deal are yet to be disclosed, as is the fate of the 115 staff working on the website and magazine. However, the move marks something of a volte-face by Primedia – only last month ceo Tom Rogers, responding to a question about a possible deal with, remarked: “Someone will have to convince me that model works.”

Media-on-media website launched in a blaze of publicity last year after poaching writers from big-name rivals such as Business Week and the Wall Street Journal. However, despite well-received content, the site attracted fewer subscribers than it had anticipated.

News source: Advertising Age - Daily Deadline