The Knot Gets Hitched to Breastfeeding.com

by Ken Schachter on 13 January 2009, 12:30

Categories: Archives - General news - Media - Communications - Internet - Finance
Topics: TheKnot.com , the Knot , breastfeeding.com , The Bump , auction-rate securities

 
The parent of wedding web site theknot.com, continuing its expansion plans, Tuesday announced it was acquiring breastfeeding.com.

Terms of the deal were not disclosed.

Shares of Knot Inc., whose celebrity spokeswoman is Lindsay Frost of “As the World Turns,” tacked on $.18, or 2.3 percent, to $7.99.

In February, Knot Inc. acquired The Bump Media, publisher of pregnancy-themed magazines and a web site. On January 1, The Knot rolled out 10 new location-specific wedding web sites in New York, Los Angeles, Chicago, Boston, Houston, Minneapolis/St. Paul and other cities.

The Knot was founded in 1996 and published a wedding site on AOL. The company rolled out a site on the World Wide Web in 1997 and went public three years later.

In the quarter ended September 30, The Knot posted an 8 percent increase in net revenue to $27 million. Net income, however, fell to $2.2 million, or $.07 per diluted share, versus $2.9 million, or $.09, in the prior year’s quarter.

 One of the clouds hanging over The Knot involved its investments totaling $48.9 million in auction-rate securities as of September 30.