According to this article in

According to this article in The Industry Standard, Lycos and Advance (the company that owns Conde Nast) have funded a "group of cultural Web sites including Suck, Feed and alt.culture... The idea behind the group, these sources say, is to link the sites into an alternative-media network, and drive readers to them via Lycos' formidable search engine traffic. Each participating site will have equity in the company as a whole."