Britain's Guardian Media Group has bought ContentNext, which publishes digital media news site paidContent, for about US$30 million (15 million), Reuters reported Friday.

New York City and Santa Monica, Calif.-based ContentNext was founded by Rafat Ali, who also serves as editor of paidContent, and Nathan Richardson, the company's chief executive.

Ali and Richardson will continue running the company as a “stand-alone” business, Reuters reported the privately held Guardian as saying.

The price includes an earn-out, “which will depend on future performance of the company,” according to All Things Digital, which also reported the sale price to be $39 million. Reuters and All Things Digital both cited sources familiar with the matter when reporting on how much Guardian Media paid.

ContentNext also owns mobile content site mocoNews.net, Indian digital content market site contentSutra.com and paidContent:UK, Reuters reported.

paidContent was founded in 2002.