TechCrunch broke this morning that Reddit, the politico’s Digg clone — albeit the low-brow remarks and flagrant gaming — has recently been gobbled up by Wired’s parent company, Conde Nast.

Look for this acquisition to cause more rumours to swirl about Digg’s acquisition, which, quite frankly, has died down over the past few days — and possibly bump up any asking prices (since the competition for social network sites just fell by about 1/3).
Much like how Digg could be plugged into MySpace and used as a strange “oracle” device, Todd Zeigler from Bivings, has an excellent point about Reddit – and how it has uses for more than the traffic it brings.

The publisher could create a single destination site where all the articles from its various publications are aggregated and voted on using Reddit technologies. Alternatively, Condé Nast could add Reddit views to the websites of all the magazines they own in order to provide a “social” view of the magazine’s content in addition to an “editor” controlled view.

Time will tell what Conde Nast plans to do with Reddit.  Conde Nast already controls a gaggle of magazine interests; one wonders in pure and utter speculation, if is the first public attempt to bring its concerns into the electronic age the web2.0.  What with the hew and cry of the slow death of newspapers, it certainly would be quite apropos.