The deal that created Ben Lerer’s new media empire, Group Nine, totaled $585 million
|05/24/2017||Posted by BusinessMediaguide.Com under General World News||
Group Nine Media, the holding company that tied together four media brands in October — Thrillist, NowThis, The Dodo, and Seeker — was created in a deal totaling $585 million, according to a new SEC filing on Tuesday.
The filing also lists $14 million to be “used for payments to any of the persons required to be named as executive officers, directors or promoters.”
That $585 million includes the $100 million investment from Discovery Communications, disclosed at the time. (Seeker, Discovery’s digital network, was one of the Group Nine brands.)
The deal reflects the increasing stakes in the maturing online read more >>>