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Japanese company sells financial website Quartz to management

Quartz co-founder and CEO Zach Seward has reached an agreement to acquire Quartz from Uzabase, the company’s owner for the past two years.

Seward, who remains CEO, is partnering with editor-in-chief Katherine Bell, now a minority owner, to operate Quartz as a private company.

The acquisition is effective immediately. Terms of the deal were not disclosed.

“Quartz’s mission is to make business better,” Seward said in a stateemnt. “We want Quartz to be an ally and resource to our readers in developing new and better ways of doing business. This is an exciting moment for our own business, as we become an independent media company again. I’m thrilled to be taking this step after helping to build Quartz, with so many others, over the past eight years.”

Added Bell, “In a time of great change and risk, we need ambitious and innovative business journalism more than ever. Quartz’s progressive, global perspective helps readers understand the world’s most difficult and urgent problems, like the climate crisis and racial and economic injustice, and work on solving them. I am honored to join Zach and lead Quartz into the future.”

Yusuke Umeda, CEO of Uzabase, has agreed, in a personal capacity, to provide debt financing for the new company, which will also seek outside investment.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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