Daily Mash publisher bought for £1.2m

The firm that owns satirical news website the Daily Mash is changing hands for £1.2m.

Mashed Productions, which also produces a TV spin-off on BBC Two called the Mash Report, has been bought by media firm Digitalbox.

The new owner describes itself as a company with a pedigree in emerging publishing technologies.

Daily Mash co-founder and editor-in-chief Neil Rafferty said the deal would give it access to greater expertise.

The purchase is expected to complete on 5 March, subject to approval by shareholders.

Digitalbox already owns the Entertainment Daily website, which offers celebrity news and show business gossip.

Digitalbox chief executive James Carter said the acquisition of the Daily Mash, which was founded in 2007, was likely to be followed by other asset purchases as the firm pursued a "buy-and-build" strategy.

He said: "With 10 years of consistent audience growth under its belt and the Mash Report successfully airing on BBC Two, it is a brand with huge potential.

"We are very much looking forward to working with the team to help them grow."

Mr Carter told the BBC: "The Daily Mash is a very powerful brand and very well loved by people throughout the UK, but we think we can add some value to it."

The Daily Mash's Mr Rafferty said: "This is a great opportunity for the Mash to build on what we have created so far. My co-founder, Paul Stokes, did an incredible job building a profitable business from the ground up.

"Being part of Digitalbox and accessing their commercial and technical expertise means we can keep building, while our fantastic team of writers continue to produce great content every day."