Jupiter Media Buys Mediabistro.com

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Jupitermedia Corp., which provides stock photographs and other digital content, said Wednesday it bought mediabistro.com, a job search and community web site for media professionals, for $20 million.

The company said the acquisition was paid for in cash and includes a two year earn-out that could bring another $3 million.

Jupitermedia said the funding for the deal was secured through a $115 million senior credit facility arranged by KeyBanc Capital Markets.

Mediabistro includes job posting for media fields, educational courses, events, forums and a premium subscription service.

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