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 could still fall apart.
“The sale of Morning Brew is a bright spot in a digital-media sector that has faced a number of challenges. The online-ad market was already under pressure before the coronavirus pandemic exacerbated the situation.
“Newsletters, including those operated by companies like Morning Brew, theSkimm and traditional media outlets, are viewed as attractive, partly because they can help companies expand the reach of their content and recruit new subscribers.”
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