Thomson Reuters purchases World Business Media
Thomson Reuters said on Tuesday it acquired World Business Media Ltd., a subscription-based provider of news and analysis on the insurance and reinsurance market. Kenneth Li of Reuters reports, “The London-based company of about 25 employees will join the Reuters News division of Thomson Reuters. Its products include The Insurer, a digital news operation for editorial […]
Red Ventures explores sale of CNET
Red Ventures, the digital media and marketing juggernaut, has approached strategic buyers about offloading tech news and reviews site CNET, reports Sara Fischer of Axios. Fischer reports, “Red Ventures acquired CNET, along with a few smaller websites, from ViacomCBS, now Paramount Global, in 2020 for $500 million. It’s hoping to get at least half of that for CNET alone. […]
Cheddar News sold to Archetype for undisclosed amount
Cheddar News-owner Altice USA announced Thursday it has sold the financial news streaming service to the media company Archetype, which is owned by private equity firm Regent LP, reports Drew Richardson and Alex Sherman of CNBC. Richardson and Sherman report, “Terms of the deal were not officially disclosed, but a person familiar with the matter told CNBC it is […]
Decrypt is merging with Rug Radio
Decrypt, the news website covers crypto and web3, has signed a letter of intent to merge with Rug Radio, a decentralized media company for web3 creators, reports Sara Fischer of Axios. Fischer reports, “The deal brings Decrypt further into the web3 ecosystem and gives Rug Radio and its ad partners closer proximity to the journalism brand […]
Altice in talks to sell Cheddar News to private equity firm
Altice USA is in talks to sell the financial news streaming service Cheddar News to Los Angeles-based private equity firm Regent LP, reports Alex Sherman of CNBC. Sherman reports, “No deal is assured and discussions around structure are still fluid, said the people, who asked not to be named because the talks are private. “In one iteration […]
Forbes parent terminates deal to sell
Forbes CEO Mike Federle sent out the following on Tuesday: Hi everyone — This morning our parent Integrated Whale Media terminated its agreement to sell Forbes to the Austin Russell-led Investor Group, which couldn’t deliver the closing. The cancellation of this sale does not affect our day-to-day operations or business goals. In fact, we are well positioned […]
Forbes buyer Russell seeking to raise money to close deal
Austin Russell, the 28-year-old CEO of electric vehicle company Luminar Technologies, is trying to replace hundreds of millions of dollars for his bid to buy Forbes, reports Sara Fischer of Axios. Fischer reports, “Russell was blindsided by Indian investment firm Sun Group and others who didn’t wire the money they were contractually obligated to send on the […]
CoinDesk sold to company run by former NYSE president
A company run by former New York Stock Exchange president Tom Farley said on Monday that it has acquired crypto-focused media company CoinDesk, reports Vicky Ge Huang of The Wall Street Journal. Huang writes, “Bullish, the crypto exchange run by Farley, bought 100% of CoinDesk in an all-cash deal. Financial terms of the deal weren’t disclosed. Digital […]
Crypto news site The Block sells 80% stake
Crypto media company The Block sold a majority stake to Singaporean venture capital firm Foresight Ventures in a deal valuing the crypto outlet at $70 million, report Lucinda Shen and Sara Fischer of Axios. Shen and Fischer report, “Former CEO Mike McCaffrey — who held a majority stake in The Block — was ousted last year after it […]
Russian tycoon claims he’s behind Forbes purchase
Russian tycoon Magomed Musaev has claimed he’s the money behind the recent acquisition of Forbes, instead of tech founder Austin Russell, according to five audio recordings and one video recording obtained by The Washington Post in which he discussed the deal. Catherine Belton, Todd C. Frankel and Elizabeth Dwoskin of The Post report, “‘I just bought […]
