I'd say this lowballs him:
If you want to buy the Drudge Report, offer him $10 million. If he's even interested in selling, don't be surprised if he counters with $15 million or more. But don't pay a penny unless you lock the man in the fedora in to a long-term contract. Without himand his sourcesthe site is worthless.
I know this now counts as a massive suck-up, but I think the man is a genius, easily the most gifted media entrepreneur of his generation. And I wrote that a very long time before it was cool.