Morningstar purchases financial blog Footnoted

Investment research company Morningstar has purchased a financial blog for an undisclosed amount.

Investment research company Morningstar has purchased a financial blog for an undisclosed amount. Footnoted.org was founded in 2003 by a financial journalist, Michelle Leder, and covers insider investment news and SEC filings. Morningstar intends to make some of the content from the blog available on its Web site, allowing Leder to continue writing and running Footnoted.

From Leder's blog post on the deal:

While I negotiated mightily for the keys to the Gulfstream, the corporate apartment in Paris, the company yacht, the lifetime consulting contract and, of course, a tax gross up — all crazy perks we've written about in various M&A deals — I came up empty handed. That's because Morningstar doesn't believe in those sorts of things. Nor do I. Instead, my reward will come if I'm able to grow the footnoted business the way that I envision, which is exactly as it should be and just another reason why I'm so excited to be joining Morningstar.

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