G/O Media, which operates online qualities these types of as Deadspin, Gizmodo and Jezebel, is obtaining on line organization information website Quartz, marking one more move in the consolidating electronic-media landscape.
Reps from G/O Media and Quartz declined to disclose the offer price tag.
the chief government at Quartz, will continue to be at the company as its editor in main. There will be no personnel cuts because of to the sale, he explained in a letter to workforce. The Quartz newsroom will stay impartial and concentrated on world company information and examination, he explained.
“Joining a larger sized business will offer extra sources for our most strapped groups at Quartz and far more alternatives for vocation growth across the new corporation,” Mr. Seward reported in the letter.
The offer is component of a wave of consolidation in media as publishers search for scale to contend with
’s Google and Meta Platforms Inc.’s Fb, when setting up out new capabilities these kinds of as all those concentrated on e-commerce and licensing.
In the past year, IAC/InterActiveCorp.’s Dotdash acquired journal giant Meredith, Vox Media acquired Group Nine Media and BuzzFeed Inc. went general public through a unique-intent-acquisition business in an work to elevate dollars to fund promotions.
Soon after the Quartz offer, G/O will personal 12 publications, together with automotive news internet site Jalopnik, satirical information publication The Onion and Black news and tradition web-site The Root.
The publisher reported it appeals to 95 million special monthly readers. Quartz reported it has 10 million regular monthly people.
Launched in 2012 by Atlantic Media, Quartz has experienced several proprietors in its 10 years of existence.
“This is the third time Quartz has been bought,” Mr. Seward mentioned in his letter.
In 2018, Quartz was offered to
, a Japanese economic intelligence and media firm. Then two years afterwards, Uzabase marketed Quartz to Mr. Seward and Editor in Chief Katherine Bell in a management buyout.
In his letter to workforce, Mr. Seward mentioned Ms. Bell was leaving her position as editor in chief but would continue to provide as an adviser to Quartz.
“After using Quartz private in 2020, we experienced sought to increase funds and stay on our individual,” Mr. Seward mentioned. “Selling was not the program, but it turned the pretty very best path for Quartz, and for all of you, when we begun conversing to G/O previously this yr.”
Mr. Seward earlier worked for The Wall Road Journal.
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Appeared in the April 29, 2022, print edition as ‘Business News Web-site Quartz Purchased by G/O Media.’