Term Sheet

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Breitbart raises money for... something

September 27, 2011: 11:52 AM ET

Conservative media mogul Andrew Breitbart raises $10 million.

Breitbart News Network yesterday reported to the SEC that it has raised $10 million in private funding from a pair of unidentified investors.

My initial thought upon seeing the filing was that BNN is the parent company for right-wing activist Andrew Breitbart's myriad of websites. You might remember them from such hits as the edited videotape of Shirley Sherrod or the photo leaks that led to Rep. Anthony Weiner's resignation.

But then I noticed that the incorporation year was 2011, whereas many of Breitbart's online endeavors started years earlier. So either this is simply a new legal entity formed this year to do formalize matters, or Breitbart is launching a different type of platform.

Supporting the latter theory is a checkmark next to "$1 - $1,000,000" in revenue. Brietbart claims more than 20 million pageviews per month, which would mean he's earning less than half a penny in ad revenue per pageview. In industry jargon, that's horrible (particularly when matched up against his available ad positions and rate-card).

I left a message yesterday for Larry Solov, the only executive other than Breitbart listed on the regulatory filing,but heard nothing back. So, for now we know that Breitbart has raised $10 million... to do something.

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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