Crain Communications announced Thursday it has agreed to acquire Green Market Report, which covers financial news of the rapidly growing cannabis industry, for an undisclosed amount.
Green Market Report was launched in 2017 by co-founders Debra Borchardt, a financial journalist and former Wall Street executive, and Cynthia Salarizadeh, a seasoned public relations expert and legal cannabis industry insider.
The acquisition will be finalized on Sept. 30.
“We are excited to add Green Market Report to our now 21-brand portfolio,” said KC Crain, president and CEO of Crain Communications, in a statement. “They focus on the financial, business and economic side of the cannabis industry, so it’s a natural fit with our other business brands.”
Green Market Report, which includes a network of freelance journalists and garners 150,000 monthly page views, is led by Borchardt and located in New York.
“Crain is one of the highest quality business news organizations in the country,” said Borchardt, CEO and co-founder of Green Market Report, in a statement. “Their team, resources, and respected journalism will make the perfect partner as Green Market Report continues into the future. The combination of Crain’s experience and Green Market Report’s expertise will turn us into a leader in the industry, and I’m personally excited to be a part of that growth.”
This deal comes two years after Crain’s acquisition of GenomeWeb — an online news organization covering trends in genome sequencing — in 2019.
