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Glam Media Said to Pay $150 Million for Andreessen’s Ning

Glam Media Inc., a provider of Internet-advertising services targeting women, will pay about $150 million to acquire social-networking site Ning Inc., according to two people familiar with the transaction.

Glam agreed to purchase Ning and have co-founder Marc Andreessen join its board, the two companies said today. Glam will pay mostly in preferred stock, said one of the people, who asked not to be named because the terms haven’t been made