Search Engine Journal reports that Weblogs Inc is no longer a private venture and has been purchased by AOL :

AOL is buying Weblogs Inc, the blog media network behind such sites as Engadget, AutoBlog and Luxist. PaidContent.org broke the news story last night as it learned that Weblogs Inc, which reportedly earns over $2 million per year in advertising revenue, has been shopping itself around to Yahoo, MSN, and NewsCorp before settling with AOL on an aquisition deal.

The good news behind the acquisition is that AOL does not plan to integrate Weblogs Inc. into the AOL Network, keeping them running as a separate entity… probably with AOL Advertising.com ads working as filler and then occasional links to AOL Search and portal services.