Business Insider parent buys majority stake in Morning Brew

Insider Inc., the parent company to Business Insider, closed an all-cash deal Thursday to buy a majority stake in Morning Brew, a media startup that focused on business newsletters and podcasts, reports Sara Fischer of Axios.

Fischer reports, “The deal values Morning Brew at around $75 million, sources tell Axios.

The Morning Brew co-founders will retain a sizeable minority stake, and have an earn-out clause built into the deal which encourages them to stay and grow the business long-term.
“We are incentivized to be profitable and to grow quickly,” co-founder Alex Lieberman tells Axios.
Lieberman and co-founder Austin Rief will sit on a small, newly-created Morning Brew board that will also include Insider Inc. co-founder and CEO Henry Blodget.

“Deal structure: The Morning Brew brand will remain fully intact and the business will operate completely independently within Insider Inc., which is parent to Business Insider and a paid research division, which includes eMarketer.”

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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.