Rogers Communications Inc. has sold its MoneySense online-only magazine to Toronto-based Ratehub Inc. The deal is to close December 1. As a story in the Globe and Mail points out, this is the first (and only) one of eight magazines put up for sale in the summer as a package including the company's custom content group. Rogers apparently had an understanding to sell seven titles (save for MoneySense) to the publisher of The Hockey News, but that deal collapsed a few weeks ago.
Rogers will continue to produce MoneySense content, sell advertising and operate the website until the end of January in order to assist with the transition. Most of the content on the site is created by freelancers; no Rogers employees are moving as part of the acquisition.Ratehub makes most of its money from affiliate marketing, but MoneySense is expected to continue to rely on standard online advertising to a great extent.