Group Nine Media, owner of websites such as The Dodo and NowThis, is considering using a blank-check company to acquire some of its competitors, according to people familiar with the matter, as the digital-media sector continues to consolidate.
In recent weeks, Group Nine Media has consulted with advisers about the possibility of pursuing deals through a special-purpose acquisition company, also known as a SPAC, the people said. Those blank-check companies raise capital by going public and can put the proceeds into deals. Group Nine Media is interested in acquisitions that could grow its audience and give it more bargaining power with online advertisers.
The venture-backed company, which formed in 2016 through the merger of several digital-media businesses, has already begun buying competitors. Last year,, a women-focused digital publisher, adding its site and web properties to a portfolio that includes animal-focused The Dodo and NowThis, a news publisher.
It isn’t clear which company or companies Group Nine Media would target for acquisitions. Group Nine’s all-stock deal with PopSugar valued Group Nine at $600 million, The Wall Street Journal reported.
Valuation of Companies at what they trade at... Annual Revenue: $AMZN 4x Revenue $AAPL 8x Revenue $TSLA 10x Revenue $ZM 100x Revenue Target: $55/share Zoom Bubble!!!! POP coming before January 15th!! Secure Profits NOW!!!!
Breaking: WSJ Acquired by Weak-Ass Insecure Misogynists JosephEpstein WSJRetractNow DOCTORJillBiden DrJillBiden WSJmisogyny
Shame on you. Normalizing misogyny
Yay more media consolidation & controlled by big tech or multi nat corps.