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9 months ago
BRIEF-Discovery Communications partners with Group Nine Media, announces $100 mln investment
October 13, 2016 / 1:16 PM / 9 months ago

BRIEF-Discovery Communications partners with Group Nine Media, announces $100 mln investment

1 Min Read

Oct 13 (Reuters) - Discovery Communications Inc :

* Discovery Communications announces $100 million investment and strategic partnership with newly formed digital content holding company: Group Nine Media

* Group Nine Media is new media holding company consisting of Thrillist Media Group, Nowthis Media, The Dodo and discovery's seeker

* In the future, Discovery will have an option to buy a controlling stake in Group Nine Media

* Axel Springer will maintain its investment as the second largest shareholder in Group Nine Media

* Entities named Seeker and SourceFed Studios will become part of Group Nine Media

* Partnership with Group Nine Media to include commercial agreement to enable advertisers reach desired audience Source text - (bit.ly/2eam3jd) Further company coverage:

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