Digital content-provider Jupitermedia Corp. announced Wednesday it has bought Mediabistro.com, a community and job search Web site for creative industry and media professionals, for $20 million in cash.

The deal includes a two year earn-out that could net an additional $3 million.

Mediabistro.com was founded in 1999 by Laurel Touby, and is based in New York City. Funding for the acquisition was secured by closing a $115 million senior credit facility arranged by KeyBanc Capital Markets, according to a Jupitermedia statement.

The Web site includes job postings for educational courses, events, forums, original content, a premium subscription service and job postings for all areas of media.