From Wired News:
When it comes to the profit potential of blogs, Nick Denton, founder of Gawker Media, calls himself a skeptic.
It’s a surprisingly pessimistic perspective coming from the Brit who has launched a network of 13 theme blogs — including Fleshbot (porn), Gawker and Defamer (gossip), Gizmodo (gadgets) and Wonkette (politics). His most popular properties (Defamer, Gizmodo and Gawker) report between 4 million and 6 million visits per month and millions more pageviews, he and his top talent have been featured in articles in the ink-and-pulp press (Wired, The New York Times Magazine) and Denton rarely misses an opportunity to trumpet ads on his sites for blue-chip companies like Absolut, Audi, Sony, Nike, Viacom, Disney and Condé Nast.
So you can forgive his competitors for not buying into his deflationary spin