Media Fortune Fame & Folly

Maven buys The Spun

Maven, the New York-based quoted sports and finance media brand spanning a range of collaborative content creators, has completed a $20m fundraise and bought sports news brand The Spun.

The Spun, founded in 2012, has 15m users accessing information about US sport at both professional and local college level. This will bring Maven’s sports users up to 50million per month with the sports properties anchored around key title Sports Illustrated which Maven operates under licence from Authentic Brands. The fundraising round drew on new and existing shareholders and managed to restructure the company’s debt at lower interest rates.