The WELL, the online community which started out life more than 20 years ago as the Whole Earth Lectronic Link, has been sold to a company founded by some of its long-time users. It has had many owners in its storied history, but its most recent owner, Salon, is the first public company to own the WELL, which raised numerous questions about whether Salon could legally sell the site to the users without trying to realize greater value for its shareholders, including through the sale of the well.com domain name.
Many WELL users have pledged money for a user buyout, and a group of them negotiated with Salon to make the purchase.
I have been a WELL user since the early 1990s, and have enormous affection and respect for the community there. Though I don't often use it actively any longer, my experiences there were formative to my understanding of the online world. Congratulations to the Well Group folks for navigating these waters. Below the jump I've included the press-release.