Politico sells, Forbes SPAC and Vice cuts – TechCrunch

The Equity team felt that there had been enough information in the media recently that we simply had no choice but to launch a Twitter space and chat. The above episode is a discussion of a few things, in a loose and relaxed, so don’t take any of Verizon’s jokes too seriously, Verizon, because we’re always working for you. For a few more days.

Anyway, here’s what Danny and Alexis entered:

  • Politico sells $ 1 billion: Its new parent company Axel Springer is also buying the rest of Politico Europe and all Protocol at the same time. The deal blew everyone’s Twitter feed because of its sheer size and the fact that it was one hell of a outing for a media company. A billion dollars? For the media? In this economy? Yes!
  • Forbes goes public via a SPAC: Yes, the venerable Forbes magazine and its huge digital arm are taking the blank check route to the public market, which means we have its issues and time to go through them. Our take is that Forbes has done a tremendous job of taking their IRL brand and expanding it into the digital world. The company has big plans to start up and will be worth over $ 800 million when it combines.
  • Layoffs hit Vice: While Vice focuses on video content – you’ve heard this story before – he’s getting rid of part of his editorial team. The layoffs were a stink bomb on Media Twitter after the other news of the week, but sadly didn’t come as a huge surprise. The company’s union denounced them as an annual repeat. Not good, not good at all.

And there is more media news to come. Our parent company Verizon Media is expected to close its sale to Apollo on or shortly after September 1, which means we will either host Equity regularly as always, or we will host the RUDE (Recently Unemployed Due to (Private) Equity) Podcast.

Equity drops every Monday at 7:00 a.m. PDT, Wednesday and Friday mornings at 7:00 a.m. PDT, so subscribe to us on Apple podcasts, Covered, Spotify and all the casts.

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