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Wed 23 Jul 2008 11:18 AM

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Google makes a dig for Digg

Company is allegedly close to acquiring the social news site Digg.com for $200 million

Search engine giant Google is making the rounds again with news that the company is close to finalizing a deal that will bring social news site Digg into the Google News group.

According to a report that cites ‘multiple sources' on TechCrunch, a blog dedicated to profiling and reviewing internet products and companies, the deal could reach $200 million.

Digg.com is a social content website that's user driven - everything on the site is submitted by users, with other people choosing to ‘Digg' what they like. If a story gets enough Diggs, it's moved to the homepage for other visitors to see. The site was founded by Kevin Rose who came up with the idea in the fall of 2004 before finally launching his creation to the world through a post on his blog later that year.

Rumours of a takeover started in March when it was believed that Google, Microsoft or other media companies could purchase Digg. The flurry of comments by Digg users that followed prompted CEO Jay Adelson to defensively state that the rumors were "completely inaccurate."

It's believed that the companies are now in final negotiations, but could take a few weeks to close the deal.

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