TechCrunch acquires Tiger Beat, will rename it CrunchKids

In a stunning move that caught the blogosphere off-guard, TechCrunch editor Michael Arrington announced Monday that his fast-growing blog empire is acquiring the venerable teen magazine and Web site Tiger Beat from the magazine's parent company, Laufer Media.

Exact terms of the deal weren't disclosed, but Arrington made it clear he intends to shut down the magazine and go online-only with Tiger Beat, which tech reporters covering the news Monday discovered is actually called Bop Tiger Beat. Within the next 30 days, the site will be renamed CrunchKids.