Yoick - Hightechwire

Publisher Conde Nast has acquired Digg-look alike Reddit.

Michael Arrington notes that users praise social news site Reddit for its very quick load time - as both a Digg and Reddit user, I concur. Reddit wins hands down.

Unconfirmed reports put the acquisition price at around $65 million. It’s also interesting to note that Reddit built Conde Nast a celebrity-focused version of their service for Conde called lipstick.

There are still rumors floating around that News is looking at acquiring Digg.

Kudos to Paul Graham for supporting Reddit.