The New York Times has bought eponymous podcast company Serial. The company was formed in 2017 following the success of the Serial podcast series. Terms of the deal were not disclosed. The purchase is the latest in a wave of consolidation within the podcasting market. New York Times
TikTok “to be bought by US”
US investors General Atlantic and Sequoia have formed a collaboration to try to buy a majority stake in video app TikTok from its Chinese parent ByteDance. Hugely popular TikTok is facing regulation and bans around the world over security concerns, so purchase by an American owner would alleviate the backlash. Other investors are also rumoured…
FBH buys Aussie pricing
The peer group network Farmers Business Holdings, of Australia, has bought Farmsave Holdings which provides real time chemical pricing and supply services to Australian farmers. The deal is expected to help the farmers push back against price pressure from a diminishing number of suppliers. Terms were not disclosed. Farmers Business Holdings
CB Insights buys VC data
CB Insights, of the US, has bought the Dow Jones-owned Venture Source which provides global data on venture capital markets. The company will continue to provide information under a licensing arrangement to Dow Jones. Terms of the deal were not disclosed. CB Insights
Tony Elliott dies. Visionary founder of Time Out magazine
Tony Elliott, the founder of Time Out, has died in London aged 73 after a long battle with cancer. He started Time Out magazine in London in 1968 and grew it into a major international publishing business. Time Out said yesterday (17 July): “Tony was a visionary publisher, a tireless champion of city culture and a staunch…
UK local news battles begin
Until 200 years ago, Norwich, in the eastern county of Norfolk, was England’s second largest city after London. It had been colonised successively by the Romans, Vikings and, more peacefully, by the Dutch. Today, the 200,000 population of “the most complete medieval city in the UK” live among cobbled streets, half-timbered houses, an 11th-century cathedral,…
Bauer completes Aussie exit
Mercury Capital today completed its acquisition of the former ACP Magazines from Bauer Media in Australia. The new owner, which reportedly paid less than A$50m for the largest magazine publisher in the AsiaPacific, immediately announced it would resume publication of the company’s major magazines in New Zealand which had been stopped by Bauer, including: NZ…
Nub News “£2m fundraising”
The UK hyperlocal group Nub News says it is in the final stages of negotiating up to £2m of equity funding from existing and new investors. The cash will help the “virtual” company increase its coverage of smartphone local news from 42 to 200 towns, including many London suburbs. With annual operating costs of some…
SiriusXM buys Stitcher
US audio company SiriusXM, owner of Pandora music streaming, has bought podcast producer Stitcher from parent company EW Scripps for $265m upfront and an earnout payment of up to $60m. The Verge reported: “The move sets Sirius to compete even more seriously against Spotify, iHeartMedia, and Apple for dominance of the podcasting space. Stitcher is…
Chatham buys McClatchy
US local newspaper company McClatchy has been sold out of Chapter 11 bankruptcy to Chatham Asset Management, owner of American Media Inc (publisher of the National Enquirer) and Canada’s Postmedia. The deal, after a competitive bidding process, is thought to be worth $300m (including debt) although terms have not been disclosed and the deal remains…
