I ended up buying *another* content site last month after posting here that I bought one in November and still ask myself "why".

This one also distressed - operator exiting the space, large mailing list with a sub-par open rate, but it's been around since 2010 or so, well known and came with a few other perks. We can use it in our network - but again, this is low intensity stuff - it's not really going to generate revenue, it's more like a top-of-funnel for the rest of the portfolio.

Really dirt cheap though. So I couldn't pass it up.

How's the "content site" market and multiples looking inredactedwith the Google SEO algo updates and such? What type of multiple and risk mitigation structures do you see (i.e earnouts, perhaps) to protect the downside from losing traffic to the site suddenly?