At last, an explanation for the renewed rumors of a Digg sale. Digg has hired Allen & Co., the boutique investment bank which specializes in media deals, according to VentureBeat. Which makes sense, since Digg CEO Jay Adelson got an invite to this year's exclusive Allen & Co. conference in Sun Valley. The wave of buzz about a Digg sale is likely explained by Allen bankers' discreet inquiries. The company, as we'd heard, is seeking a price tag of $300 million. One possible acquirer, IAC, which had previously expressed interest but has backed off before. One reason for the renewed interest now: We hear that Barry Diller's online conglomerate is secretly working with Digg on some kind of project — possibly a white-label version of Digg's social news site. (Photo by Lane Hartwell)