News startup The Messenger acquires Grid

The following was sent out from the Press Gazette:

Jimmy Finkelstein’s digital news start-up The Messenger, which is set to launch in May, has bought another recent US newcomer, Grid.

Grid, which is based in Washington DC, launched in January last year. It will be merged into The Messenger upon the new site’s launch.

Finkelstein, the chief executive and chairman of The Messenger who previously owned US political news outlet The Hill, said: “Grid has built a successful and impressive news brand that reaches an influential audience and we are thrilled to be associated with their brand and talented team.

“Merging Grid’s brand and exceptional editorial and business teams into The Messenger will significantly strengthen our position when we launch in May.”

Grid has an editorial staff of around 30 people and aims to be a “collaborative newsroom” working to show how different specialisms are often interconnected. It says it aims to “connect with an audience that wants a deeper, clearer understanding of the world around them, regardless of their political orientation”.

Finkelstein added: “Although we will always be looking at news sites to acquire, there are very few brands that are of this high quality.”

The Messenger will launch by covering news, politics, business and finance and entertainment and later move into more areas, the company said, adding that its mission is to “deliver accurate, balanced, non-partisan news and information” across its website, app, video, social media, newsletters and events.

Grid is owned by International Media Investments, which will make a minority investment in The Messenger’s owner JAF Communications as part of the acquisition. IMI has also previously invested in Sky News Arabia, The National in the UAE, and Euronews.