Got a media business to sell?

Well, Fairfax is buying.

The latest in the end of year media buying binges has been all over the papers yesterday and today.

But one small, yet to be publicised, web purchase by Fairfax adds an interesting twist to the current slate of big deals. It's an independent online operation that has been running for six years, quietly building an audience and a solid business in a space the majors just can't seem to get right.

So they buy it.

On Tuesday, sources tell me, Fairfax finalised a deal to buy Essential Baby for around $1.5 million. It may be that FXJ got a bargain. Then again, it's almost certain that they'll break it once the founder serves out her payout period. (These guys really don't know how to do social media.)

Tip yer hat to a smart mum in Bronte.

You heard it first here.

Added 9/12:
"I'm sick of these chump change deals," says Ernie Entrepreneur (currently raising finance for his own, very smart web 2.0 start up).
"Fair enough," says I. "But given this is a single owner operation with one sales staff, and has been taking in $50,000 a month in ad revenue, they ain't having to spread it too far."
"Sheesh, they could have worked the multiples a bit harder. Anyway, how far does $1.5 mill get you in Bronte?"
"Oh, you're a cynic, Ernie. It's a site about baby stuff. Even in Bronte that'll buy you a lot of nappies."