Group Nine Media

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Group Nine Media, Inc.
TypePrivately held company
FoundedOctober 2016; 5 years ago (2016-10)
FounderBen Lerer
Headquarters
New York City[1]
Key people
Ben Lerer (CEO)
Brian Sugar (President)
Number of employees
415+ (2016)
ParentDiscovery, Inc. (35%; merger with WarnerMedia to form Warner Bros. Discovery pending)
SubsidiariesThe Dodo
JASH
NowThis
PopSugar
Seeker
Thrillist
Websitewww.groupninemedia.com
Footnotes / references
https://www.axios.com/group-nine-popsugar-joint-leadership-team-6c53b3ad-2242-4179-a854-dbd6bb424e67.html

Group Nine Media is an American digital media holding company based in New York City. The company comprises Thrillist, NowThis, The Dodo, and Seeker.[2][3] The four brands and former brand Sourcefed, merged to form Group Nine Media in October 2016. In October 2019, Group Nine Media acquired PopSugar.[4] 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.[5]

Ownership[]

At the time of the 2016 merger, Discovery Communications announced a $100 million minority investment in the collective organization, becoming the biggest shareholder before Axel Springer. Discovery also acquired the right to obtain a majority stake later if it so chooses.[6] In 2017, Discovery led a $40 million funding round in the digital media company.[7] Group Nine Media raised $50 million in new funding in 2019, led by its lead investor Discovery along with participation from German publishing firm Axel Springer.[8]

Ben Lerer, founder of Thrillist and managing director of Lerer Hippeau Ventures, serves as CEO of Group Nine Media.[9]

References[]

  1. ^ "Group Nine Media Inc". Bloomberg. Retrieved November 22, 2018.
  2. ^ Sternberg, Josh (May 3, 2018). "Group Nine Media's NewFront Was All About Obsession". Adweek – Breaking News in Advertising, Media and Technology. Retrieved November 22, 2018.
  3. ^ Gutelle, Sam (May 3, 2018). "Seeker's New Space Channel Headlines Group Nine Media's Slate Of Fresh Content". Tubefilter. Retrieved November 22, 2018.
  4. ^ Tracy, Marc; Lee, Edmund (2019-10-07). "PopSugar Acquired by Group Nine Media in Latest Digital Media Deal". The New York Times. ISSN 0362-4331. Retrieved 2019-10-08.
  5. ^ Ha, Anthony (15 January 2021). "Group Nine's SPAC goes public". Tech Crunch.
  6. ^ Barr, Jeremy (October 13, 2016). "Digital Publishers Come Together as Group Nine Media, Backed by $100 Million From Discovery". AdvertisingAge.
  7. ^ Smith, Gerry (28 November 2017). "Discovery Leads $40 Million Round for Thrillist Owner Group Nine". Bloomberg.
  8. ^ Spangler, Todd (2019-09-09). "Group Nine Raises $50 Million From Discovery, Axel Springer". Variety. Retrieved 2021-11-03.
  9. ^ Sherman, Alex (November 17, 2018). "How a new breed of media companies is convincing people to pay for news again". CNBC. Retrieved November 22, 2018.

External links[]


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