Terms were not disclosed, but Ad Age is reporting that Yahoo is paying "slightly more than $100 million."
According to Yahoo, the acquisition will give it the ability to offer more local, niche, and advertiser-specific content.
"This is about extending our content offerings so that we're relevant to both a mass and a niche audience. It's the next phase for our content business," Yahoo Media VP James Pitaro told paidContent.
Associated Content also brings with it 380,000 contributors and 16 million unique monthly visitors.
In other news:
Twitter Inc. expects hundreds of advertisers to sign on for its newly launched advertising program, "Promoted Tweets," by the fourth quarter, Reuters reports. "We really look to start to ramp this up aggressively in Q3 and then really blow it open in Q4," chief operating officer Dick Costolo said.
Condé Nast says it has sold 57,000 copies of GQ's $2.99 iPad/iPhone app since it launched the app in December. Not a bad start for one of the first magazine apps available on the iPad, but still dwarfed by the 900,000 print copies GQ moves per month.