The shift to niche marches on. In addition to this investment, according to a MediaPost
article, Glam Media is going to build a Digital Media Technology Center, and, by the way, their women's division is profitable.
Glam Media comprises about 1,100 niche news sites from fashion, beauty, living, celebrity & entertainment, lifestyle, health & wellness, shopping, teens & genY, men's lifestyle, tech and auto (the last three from the Brash Network, part of Glam Media). It claims about 109 million unique visitors per month to all of these properties.
Glam Media is one of at least 16 niche news networks. These networks employ thousands of journalists and have revenues running into the hundreds of millions of dollars. You can find the list of these networks at the bottom of the "organizations" section in JurnosWiki.
This is another example that journalism isn't dying. It's shifting. And nichifying. (Can't say that enough.) In the 16 niche news networks, only a couple have their origins in legacy media.