- June 4, 2024
- Posted by: legaleseblogger
- Category: Related News
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Gizmodo Sold to Keleops Media
Tech news website Gizmodo has been acquired by Keleops Media, a European digital media company, in a deal that has not been disclosed. The acquisition was reported by Justin Baragona of The Daily Beast.
In a company-wide email shared with The Daily Beast, G/O Media CEO Jim Spanfeller announced the acquisition, stating, “After careful consideration, G/O Media’s board of directors has decided to accept Keleops Media’s offer to purchase Gizmodo. The decision was influenced by Keleops’ commitment to retaining Gizmodo’s entire staff and the sale valuation, which represents a significant premium from the site’s original purchase price.”
Spanfeller attributed the increased valuation to the hard work of Gizmodo’s editorial, sales, marketing, and development teams. He commended the teams for their efforts in enhancing the site’s features and marketing strategies.
Under the terms of the acquisition, Gizmodo’s staff will remain in New York City offices, at least in the short term. Spanfeller acknowledged Gizmodo’s two-decade history of tech journalism leadership, emphasizing the site’s unique voice and approach. He expressed the new owners’ enthusiasm for acquiring a reputable brand and a skilled team of journalists.
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Learn more about the acquisition here.
About the Author: Chris Roush
Chris Roush served as the dean of the School of Communications at Quinnipiac University and was previously a distinguished professor in business journalism at UNC-Chapel Hill. With a background in business journalism for prominent publications, Roush is an acclaimed author of business reporting textbooks and biographies.
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