User filtered content site Reddit bought by Conde Nast

Conde Nast, the owner of Wired magazine, has just bought the user filtered news site Reddit, according to TechCrunch. After AOL set up Netscape beta as a user filtered news site, this is the second signficant foray of large media into this space. As described in our Future of Media Report 2006, user filtering is the Web 2.0/ participative analogue of editorial. It is not just users creating content, but also editing. Chris Anderson, editor of Wired magazine, is very excited about the acquisition, which plays perfectly to his long tail themes. There will be lots more play in this space yet.