Drudge Report worth $375 million?

Henry Blodget says The Drudge Report is worth hundreds of millions of dollars and that Matt Drudge’s influence and wealth make him “one of the most successful digital media entrepreneurs in the world — the Rupert Murdoch or William Randolph Hearst of the digital age.”

Matt Drudge

The Drudge Report likely gets relatively low revenue-per-page. (Say, $1.50 per 1000 pages). But The Drudge Report has a lot of pageviews. Assuming The Drudge Report gets $1.50 per 1000 pages and has 1 billion pageviews per month, The Drudge Report should be generating revenue of $15-$20 million a year. …

Assuming The Drudge Report pays the full corporate tax rate on those earnings, the business probably generates $10-$15 million of after-tax profit per year.

Blodget notes that media properties generally trade at a 15x-25x multiple of earnings, which puts The Drudge Report’s value at between $150 million to $375 million.

In 2007, Portfolio magazine said Drudge’s site could be worth anywhere from $5.3 million to $86.4 million.

* Drudge Report is worth $100s of millions (businessinsider.com)
* From 2007: Putting a price on The Drudge Report (nytimes.com) | (bizjournals.com)
* Must-read 1998 profile: Matt Drudge’s early years (washingtoncitypaper.com)