Gawker reports that Avid Life Media and two gossip bloggers have put in a $20 million bid to acquire PerezHilton.com:
"We have obtained a copy of that Letter of Intent. It says that Avid Life subsidiary Eight Days Inc., along with Zack Taylor and Dirty World LLC, are offering Perez $20 million—$18 million up front, and $2 million in escrow for a year—for PerezHilton.com…What role (if any) Perez Hilton himself would have in this is unclear; Avid Life's Davidson said that she couldn't say, because they don't know yet.
Major caveats: This offer could be more of a PR stunt than anything else. Gaining some media coverage for this could be a great way to, say, get a lot of free advertising for a new site that Taylor, Richie, and Avid Life wanted to launch. It's unclear if Perez is interested in selling his site. And without knowing what Perez's role post-sale would be, it's hard to say whether the offer is a viable one or not. A year ago, 24/7 Wall Street estimated PerezHilton.com's value at $32 million, and that number would presumably be higher now."