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“G/O Media buys business news site Quartz” G/O Media, the owner of a handful of sites that once belonged to Gawker Media, announced Thursday it is scooping up the business news site Quartz. Terms of the deal were not disclosed. Quartz co-founder and CEO Zach Seward told employees in a memo Thursday that he agreed…
“#More glossies launched in 2021” COVID lockdowns apparently are good for at least one thing: all that extra time to spend flipping through a magazine — a down-and-out corner of the media industry that got an unexpected boost last year. The second year of the pandemic brought a surprisingly sharp rebound in new print magazines,…
“#Group Nine, Vox keep price of deal quiet” Vox Media and Group Nine are keeping the value of their merger private — and that may be because the number isn’t as eye-popping as digital media darlings once commanded, On The Money has learned. Sources say Group Nine’s worth has slumped to $225 million, less than…
“#Vox Media agrees to buy Group Nine Media in all-stock deal” Vox Media, owner of New York magazine, the Verge and Vox, has inked a deal to buy Group Nine, home to Thrillist, The Dodo and NowThis, creating a new digital media juggernaut. Terms of the all-stock deal were not disclosed late Monday. Vox Media…
“#Axel Springer ousts Bild editor Julian Reichelt after sexual misconduct probe” Axel Springer, the owner of Politico, Insider and a host of digital media publications, has ousted Julian Reichelt, a top editor at its German tabloid Bild, after an explosive report revealed his alleged sexual misconduct and the company’s efforts to sweep it under the…
“#Vice begins a new round of layoffs as company shifts to video” Vice Media quietly enacted a new round of layoffs Thursday, as the Brooklyn-based gonzo news company continued to shift its focus toward video content. A memo from Vice’s chief digital officer Cory Haik that was peppered with corporate-speak heralded the “growth period” of…
“#Forbes to become public company through $630M SPAC merger” Forbes Global Media, the publisher of Forbes magazine, said Thursday that it will go public through a merger with a blank-check acquisition firm in a deal that values the combined entity at $630 million. The company said it will merge with special purpose acquisition company Magnum…
“#German publisher Axel Springer strikes deal to buy Politico” German publishing giant Axel Springer said Thursday it has struck a deal to buy the US-based, politics-focused news site Politico. The companies didn’t disclose a sale price, but reports have valued the deal at about $1 billion. Reports of a potential deal leaked out earlier this…
“#Axel Springer reportedly in talks to buy ownership stake in Politico” Axel Springer is in talks to buy an ownership stake in Washington-based news publisher Politico, according to a report late Monday. The deal talks may include a full buyout of Politico, the Wall Street Journal said, citing anonymous sources. The talks could also fall…
“#New York Times shares rise on earnings boosted by ad surge” The New York Times beat quarterly profit expectations on Wednesday as its advertising business showed signs of recovery, eclipsing slower growth in digital subscriptions and sending its shares 12 percent higher. The financial fallout from the COVID-19 crisis had last year cut deeply into the publication’s advertising…