DOJ investigating Variety parent’s deal for Hollywood Reporter
The U.S. Justice Department is investigating Penske Media’s announced deal to acquire a majority stake in The Hollywood Reporter, reports Alexandra Steigrad and Josh Kosman of the New York Post. Steigard and Kosman report, “Sources said DOJ officials have been reaching out to third parties — including ad agencies that work with digital media companies and in-the-know Hollywood talent […]
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 […]
Private equity firm buys business newspaper owner Bridgetower Media
BridgeTower Media, which owns business newspapers such as the Idaho Business Review and Charleston Regional Business Journal, has been sold to a private equity firm for an undisclosed price. Transom Capital Group has more than $600 million in assets under management and is based in Los Angeles. BridgeTower’s publications include Massachusetts Lawyers Weekly, NJBIZ, Arizona Capitol Times, The […]
Why Red Ventures bought CNET
CNET editor in chief Connie Guglielmo interviewed Red Ventrues CEO Ric Elias about the company’s purchase of the technology site. Here is an excerpt: Q: Why CNET Media Group? What is it about what we do that drew your attention? Elias: First, let me state the obvious: The CNET Media Group platform includes some of the most […]
Business Insider parent in talks to buy Morning Brew controlling stake
Business Insider parent Insider Inc. is nearing a deal to acquire a controlling stake in Morning Brew, reports Benjamin Mullin of The Wall Street Journal. Mullin reports, “The terms the companies are discussing would value Morning Brew at over $75 million, including certain performance incentives, the people said. The companies haven’t completed a deal, and the talks […]
Japanese owner puts Quartz up for sale
Online business news site Quartz has been put up for sale just over two years after it was acquired by a Japanese financial intelligence and media company, reports Lukas Alpert and Benjamin Mullin of The Wall Street Journal. Alpert and Mullin report, “The company, Uzabase Inc., agreed to purchase Quartz in mid-2018 in a cash-and-stock deal that could have been worth as […]
RedVentures to acquire CNET for $500 million
ViacomCBS Inc. is close to selling CNET Media Group to Red Ventures LLC, according to people familiar with the matter, for $500 million, reports Benjamin Mullin of The Wall Street Journal. Mullin writes, “Red Ventures, a media and technology company, is expected to pay about $500 million to acquire the network of websites, which includes CNET, […]
How Reuters has been covering the TikTok deal story
Reuters deals reporter Echo Wang gave a behind-the-scenes look at how the M&A team has been covering the story of TikTok’s sale of its U.S. operations. Here is an excerpt: Q: What were some of the big wins covering the story? A: Lately, we were the first to report that President Trump would give ByteDance 45 days to negotiate a sale […]
Bloomberg News hires WSJ reporter Roof for deals team
Wall Street Journal reporter Katie Roof has been hired by Bloomberg News. She started on Monday on the deals team covering venture capital-backed technology deals. Roof will remain based in San Francisco. U.S. deals team leader Liana Baker wrote, “Katie Roof will be starting today in San Francisco (remotely!) to cover venture capital dealmaking. She joins the […]
Bloomberg News parent would be sold if owner becomes president
Michael Bloomberg will sell Bloomberg LP, the financial-data and media company he co-founded nearly 40 years ago, if he is elected president, reports Wall Street Journal reporters Lukas I. Alpert and Tarini Parti. Alpert and Parti report, “Mr. Bloomberg owns roughly 90% of the closely held data and media company he co-founded in 1981. According to Burton-Taylor […]
