G/O Media CEO Jim Spanfeller sent out the following email to staff about its Quartz acquisition:
I am thrilled to announce that G/O Media has entered into an agreement to purchase business news publisher Quartz (www.qz.com). Attached is the press release that we are issuing on this terrific development. This transaction is the first addition to the G/O Media stable of brands since our company was formed three years ago, and is a testament to the vitality and strength of our business as we enter this exciting new phrase of the company.
Quartz is one of the marquee business brands among digitally native premium content destinations, ranked number one for readership among global executives between the ages of 25-45. With a goal of helping readers discover new industries, new markets, and new ways of doing business that are the most sustainable, innovative, and inclusive, Quartz has been widely praised and won many of journalism’s highest honors since launching in 2012, most recently picking up two of SABEW’s Best in Business Awards earlier this month. Quartz’s commitment to quality and mission driven journalism truly embodies the values espoused in all of our brands.
Quartz will add to our powerful portfolio of sites that already lead in key industry engagement, audience, reach, and ad performance metrics. Synergies with the young audiences of our sites will help grow Quartz’s traffic, memberships, and ad revenue, while providing G/O Media with a strategic content vertical that makes the company even stronger.
Zach Seward, co-founder and current CEO of Quartz will be joining G/O Media as the GM and EIC of the brand. It has been a pleasure getting to know Zach through the transaction process, and I look forward to all of you meeting him and his team in person in the very near future.
I would be remiss if I didn’t think the talented team at our company who worked tirelessly on this transaction over the past few months, and who will be working even harder in the coming days to help with the transition. Let’s all raise a proverbial glass to welcome Quartz into the G/O Media family!
