Discovery Buys Minority Stake in Digital Content Holding Company Group Nine
Discovery Communications is buying a $100 million minority stake in just-formed media holding company Group Nine Media, made up of Thrillist Media Group, NowThis Media, Discovery's digital network Seeker and production studio SourceFed Studios, Discovery said in a news release…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
Thursday. Thrillist CEO Ben Lerer will become Group Nine CEO. Discovery said it's trying to broaden its millennial-targeting digital offerings. It said it has an option to later buy a controlling stake in Group Nine. Discovery said the investment will be used for expansion of Group Nine's sales team and branded content video.