Group Nine Mediawas an Americandigital mediaholding companybased inNew York City.The company comprisesThrillist,NowThis,The Dodo,andSeeker.[2][3]The four brands, and former brandSourceFed,merged to form Group Nine Media in October 2016.[4]In October 2019, Group Nine Media acquiredPopSugar.[5]In December 2020, Group Nine formed its own corporate SPAC to use the public funding for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination.[6]In December 2021,Vox Mediaannounced its intention to acquire Group Nine.[7]The transaction was completed in February 2022, and Group Nine was folded into Vox Media.[8]
 | |
| Company type | Privately held company |
|---|---|
| Predecessor | Discovery Digital Networks |
| Founded | October 2016 |
| Founder | Ben Lerer |
| Defunct | February 22, 2022 |
| Fate | Acquired by and folded intoVox Media |
| Successor | Vox Media |
| Headquarters | New York City,U.S.[1] |
Key people | Ben Lerer (CEO) Brian Sugar (President) |
Number of employees | 415+ (2016) |
| Subsidiaries | The Dodo JASH NowThis PopSugar Seeker Thrillist |
| Website | www |
| Footnotes / references https://www.axios.com/group-nine-popsugar-joint-leadership-team-6c53b3ad-2242-4179-a854-dbd6bb424e67.html | |
Ownership
editAt the time of the 2016 merger,Discovery Communicationsannounced a $100 million minority investment in the collective organization, becoming the biggestshareholderbeforeAxel Springer.Discovery also acquired the right to obtain a majority stake later if it so chooses.[4]In 2017, Discovery led a $40 million funding round in the d "igital media company.[9]Group Nine Media raised $50 million in new funding in 2019, led by its lead investorDiscoveryalong with participation from German publishing firm Axel Springer.[10]
Ben Lerer, founder ofThrillistand managing director of Lerer Hippeau Ventures, isCEOof Group Nine Media.[11]
On 13 December 2021, it was announced thatVox Mediawould acquire Group Nine Media.[7]The acquisition was completed on 22 February 2022.[12]
References
edit- ^"Group Nine Media Inc".Bloomberg.RetrievedNovember 22,2018.
- ^Sternberg, Josh (May 3, 2018)."Group Nine Media's NewFront Was All About Obsession".Adweek– Breaking News in Advertising, Media and Technology.RetrievedNovember 22,2018.
- ^Gutelle, Sam (May 3, 2018)."Seeker's New Space Channel Headlines Group Nine Media's Slate Of Fresh Content".Tubefilter.RetrievedNovember 22,2018.
- ^abBarr, Jeremy (October 13, 2016)."Digital Publishers Come Together as Group Nine Media, Backed by $100 Million From Discovery".AdvertisingAge.
- ^Tracy, Marc; Lee, Edmund (2019-10-07)."PopSugar Acquired by Group Nine Media in Latest Digital Media Deal".The New York Times.ISSN0362-4331.Retrieved2019-10-08.
- ^Ha, Anthony (15 January 2021)."Group Nine's SPAC goes public".Tech Crunch.
- ^ab"Vox Media to Merge with Group Nine, Home to Leading Collection of Multi-Platform Media Brands".Group Nine Media.Retrieved2 February2022.
- ^"Vox Media Completes Acquisition of Group Nine".22 February 2022.
- ^Smith, Gerry (28 November 2017)."Discovery Leads $40 Million Round for Thrillist Owner Group Nine".Bloomberg.
- ^Spangler, Todd (2019-09-09)."Group Nine Raises $50 Million From Discovery, Axel Springer".Variety.Retrieved2021-11-03.
- ^Sherman, Alex (November 17, 2018)."How a new breed of media companies is convincing people to pay for news again".CNBC.RetrievedNovember 22,2018.
- ^"Vox Media Completes Acquisition of Group Nine".22 February 2022.
External links
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