Fandom-focused sports & lifestyle publisher to expand Minute Media’s position of strength in the US sports digital media market
NEW YORK & DES MOINES, Iowa--(BUSINESS WIRE)--Minute Media, a leading global technology and digital publishing platform, today announced it has acquired FanSided from Meredith Corporation, marking the fourth acquisition for Minute Media over the past 18 months. FanSided is one of the fastest growing platforms of sports and lifestyle digital properties, with more than 300 destinations focused on specific professional sports teams, college sports, lifestyle trends, and more. When combined with Minute Media’s existing sports digital audience, Minute Media will have one of the largest sports audiences in the US.
FanSided and its platform of individual sites will remain as standalone properties that will operate within the Minute Media family of publishers and have access to Minute Media’s proprietary technology and monetization tools. FanSided’s staff will join the Minute Media team as part of the acquisition. Terms of the deal are not being disclosed.
“FanSided’s approach to community and fandom is a perfect complement to Minute Media’s existing properties. FanSided, combined with The Players’ Tribune’s athlete-perspective, provides our readers, partners and advertisers with what we believe to be the most well-rounded and holistic sports digital offering,” said Asaf Peled, Founder and CEO of Minute Media. “We are excited to welcome the FanSided team to the Minute Media family.”
“We are pleased to have found such a great home for FanSided,” said Meredith Chief Development Officer John Zieser. “We are confident Minute Media will leverage its outstanding asset portfolio and technology platform to grow the FanSided network.”
This acquisition represents the fourth purchase for Minute Media over just 18 months. In December, Minute Media announced it would acquire Derek Jeter’s The Players’ Tribune, which follows the company’s acquisition of The Big Lead and Mental Floss.
“Minute Media will continue to be bullish on the M&A front, bringing premium publishing brands into our portfolio through acquisitions, powering their growth through our proprietary end-to-end publishing platform,” said Peled.
For Meredith, the FanSided transaction is the latest in a series of non-core asset sales at attractive multiples conducted by Meredith following its January 2018 acquisition of Time Inc. Previously, Meredith sold the TIME, FORTUNE, Sports Illustrated, MONEY, Time Inc. UK, and Viant brands.
Herzog Fox & Neeman and Seyfarth Shaw LLP served as legal advisors to Minute Media. Houlihan Lokey (NYSE:HLI) and Chris Russo's Fifth Generation Sports served as financial advisors to Meredith, and Cooley LLP served as Meredith’s legal advisor.
For more information on Minute Media, visit MinuteMedia.com.
ABOUT MINUTE MEDIA
Minute Media is a leading media and technology brand focused on two main pillars—platform and content. Minute Media’s platform serves as the company’s foundation, powering its content as well as enabling the evolution of other market-leading digital media brands. To date, Minute Media’s owned and operated destinations include The Players’ Tribune, 90min, 12up, DBLTAP, Mental Floss and The Big Lead.
FanSided is one of the fastest growing network of fandom-focused sports, entertainment and lifestyle sites on the internet. Launched by two brothers who wanted to put their own spin on the coverage of their beloved Kansas City Chiefs, FanSided grew to be a thriving collection of more than 300 communities dedicated to bringing together fans to share their common passions. In May of 2015, the company was acquired by Time Inc. In November of 2018, Time Inc. was acquired by Meredith Corp.
ABOUT MEREDITH CORPORATION
Meredith has been committed to service journalism for 118 years. Today, Meredith uses multiple distribution platforms – including broadcast television, print, digital, mobile and video – to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners. Meredith's National Media Group reaches more than 180 million unduplicated American consumers every month, including nearly 90 percent of U.S. millennial women. Meredith is the No. 1 magazine operator in the U.S., and owner of the largest premium content digital network for American consumers with approximately 150 million average monthly unique visitors. Meredith’s leading national brands include PEOPLE, Better Homes & Gardens, InStyle, Allrecipes, REAL SIMPLE, SHAPE, Southern Living, HEALTH and Martha Stewart Living. Meredith’s Local Media Group includes 17 television stations reaching 11 percent of U.S. households. Meredith’s portfolio is concentrated in large, fast-growing markets, with seven stations in the nation’s Top 25 markets – including Atlanta, Phoenix, St. Louis and Portland – and 13 in the Top 50.
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