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Strategic buyers breathe new life into struggling media outlets

Media Outlets
Thought Leader: Sara Fischer
April 16, 2024
Source: AXIOS

Media companies once left for dead are getting a second chance at life with new strategic owners and management determined to revive them.

Why it matters: While the business fundamentals behind many media companies have collapsed, for many, their brand equity has remained intact.

Driving the news: Barry Diller, the chair of internet holding company IAC, has tapped media industry veterans Ben Sherwood and Joanna Coles to shake up The Daily Beast and has granted them a stake in the outlet.

Yes, but: Not all new owners have plans to invest in the dying brands they’re buying, instead milking their reputations for short-term profits.

What to watch: More survival deals are on the way.

The bottom line: Brand equity is a delicate currency.

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