Disney Online announced Monday that it has acquired parenting blog platform Babble Media, allowing Disney to strengthen its portfolio in new media.
Babble was founded in December of 2006 by Rufus Griscom and Alisa Volkman. The site contains more than 200 mom bloggers focusing on a variety of different topics involving parenting. The site is ranked 450 in the United States in terms of visitors, according to web information company Alexa.
Parents' relationships with Disney are founded in stories, and Disney's best stories are about families, Brooke Chaffin, the senior vice president of Moms and Family of Disney Interactive Media Group, said in a joint statement.
We believe that Babble and Disney can harness the power of storytelling to inform, entertain and empower parents everywhere. With more than 3.9 million mom blogs in the U.S. alone, Disney Interactive recognizes and values the important and powerful role moms have taken on in new media.
Babble also expressed optimism about the new position of the company.
We can't imagine a better next step than joining the world's leading media company for families, The Walt Disney Company, and look forward to bringing together Babble's resonant voice and community with Disney's expansive family audience, wide range of content and multi-media platform, Griscom and Volkman said in the statement.
Babble is a privately-owned company, and it hasn't disclosed financial terms to the media.
Disney Online is a subsidiary of The Walt Disney Company. Last week, Disney posted a record $4.8 billion in earnings for the 2011 fiscal year due to success in both the cable television and broadcasting division. However, the company posted a $308 million loss in the interactive media division, a 32 percent higher loss compared to 2010.
Shares of Disney are down $1.83 percent to $36.03 in late morning trading.