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Dennis Publishing is by no means admitting old media's defeat; it has called the print publication that's most relevant to this deal, The Week, a "highly successful" magazine.  But Dennis Publishing is moving further online, anyway, with its acquisition of The First Post.

The First Post is an entertaining, online-only magazine that covers current events; Neal Ungerleider points out that it "reads roughly as [the UK's] analogue of Slate."  With about one million unique visitors per month, The First Post isn't doing poorly in terms of traffic, either.

So James Tye, the CEO of Dennis Publishing, is probably correct in stating, "An online current affairs property is the perfect complement to The Week for our advertisers and the www.thefirstpost.co.uk will also be invaluable for widening the subscription audience of the title, both here and in the US.  It also underlines our commitment to be a true 21st century publisher, reaching audiences whatever the platform."

In at least one sense, that commitment remains unknown - terms of the acquisition haven't been disclosed.  Still, Dennis Publishing is behind magazines like Blender, Maxim, and Stuff, so the company is neither stodgy nor hanging on by its figurative fingernails.