OLD Media Moves

Quartz sold for less than $10 million

Business news site Quartz sold for less than $10 million last month to G/O Media, reports Sara Fischer of Axios.

Fischer reports, “Quartz sold to Uzabase, a Japanese business data and news firm, in 2018, after its inception at Atlantic Media, for a reported $86 million.

“In 2020, management bought the company back, with plans to reinvest. Quartz CEO Zach Seward said last week management ‘sought to raise money and remain on our own,’ but the sale ‘became the very best path for Quartz’ and its employees.

“What’s next: Seward said there will be no layoffs connected to the sale.

“All current employees who join G/O Media will be eligible for deal bonuses from the proceeds of the sale, totaling more than $1 million.”

Read more here.

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.

Recent Posts

Dynamo hires former Business Insider executive editor Harrington

Former Business Insider executive editor Rebecca Harrington has been hired by Dynamo to be its…

8 hours ago

Bloomberg TV hires Kerubo as desk producer

Bloomberg Television has hired Brenda Kerubo as a desk producer in London. She will be covering Europe's…

8 hours ago

Jittery CNBC staff reassured by new boss

In a meeting at CNBC headquarters Thursday afternoon, incoming boss Mark Lazarus presented a bullish…

8 hours ago

Making business news accessible to a wider audience

Ritika Gupta, the BBC's North American business correspondent, was interviewed by Global Woman magazine about…

9 hours ago

Rest of World hires Lo as China reporter

Rest of World has hired Kinling Lo as a China reporter. Lo was previously a…

9 hours ago

Bloomberg rises to No. 7 biz news website

Bloomberg News saw strong unique visitor growth to its website in October, passing Fox Business…

9 hours ago