New York – October 8, 2019 – Cooley advised Group Nine Media, the parent company of Thrillist, NowThis, The Dodo and Seeker, on its agreement to acquire PopSugar, a leading digital lifestyle brand for women. The combination solidifies Group Nine’s position among preeminent, next-generation digital media companies. Partners Peyton Worley and David Silverman led the Cooley team advising Group Nine on the agreement.
“PopSugar hugely expands our reach within an important demographic, bringing us a community that deeply loves the PopSugar brand and a company with the proven ability to diversify their revenue across premium advertising, affiliate, direct-to-consumer commerce, licensing and experiential channels,” said Ben Lerer, CEO of Group Nine, in a news release.
The merger aims to create a diversified, multiplatform business driven by unparalleled digital distribution, a fast-growing production studio business, powerful cross-platform advertising solutions, new growth opportunities in commerce, licensing and brand extensions and high-profile events.
Cooley previously advised Group Nine on its formation in 2016 and, in connection, its $100 million investment from Discovery Communications. Its launch positioned it to be the #1 video publisher on mobile in the US and one of Fast Company’s Most Innovative Companies for the past two years. Group Nine’s mission is to tell great stories that spark action and make a real difference. With nearly 45 million US viewers daily, Group Nine’s brands are built for the platforms where young people spend the majority of their time.
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