G/O Media acquires biz news site Quartz

G/O Media, the owner of websites that once were part of Gawker Media, has acquired the business news site Quartz for an undisclosed amount, reports Benjamin Mullin and Katie Robertson of the New York Times.

Mullin and Robertson report, “Zach Seward, a co-founder and the chief executive of Quartz, will stay on at the company as Quartz’s editor in chief and general manager, said Jim Spanfeller, the chief executive of G/O Media.

“The companies declined to disclose the deal price.

“Mr. Spanfeller said Quartz was an attractive acquisition because of its high-quality global business journalism, which has the potential to lure subscribers and valuable advertisers like the consulting firm Accenture to G/O Media.

“The company is focused on buying websites that broaden G/O’s editorial focus and expand into new categories, Mr. Spanfeller said, ‘and at the top of that list is business journalism.'”

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