I wonder what business model the valuation is based off? They could make some pretty good ad revenue based on their page view numbers, but it seems like a waste

I wonder what business model the valuation is based off? They could make some pretty good ad revenue based on their page view numbers, but it seems like a waste to have these exquisitely high engagement websites make most of their revenue off irrelevant display ads. Google news bypass of paywall: http://www.google.com/url?sa=t&source=newssearch&cd=1&ved=0CCcQqQIwAA&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052970204831304576594524134179668.html&ei=AKWCTua8CoPiiAKL2ciBBA&usg=AFQjCNGza1K_jky_sUAiV9iiq26zHKn_iQ http://www.google.com/url?sa=t&source=newssearch&cd=...