(MVEN) – The Enviornment Group Acquires Parade Journal’s Writer: What You Want To Know

TheMaven Inc. (OTCQX: MVEN), a digital publishing firm operated beneath the model The Enviornment Group, is buying AMG/Parade, the multimedia content material firm finest generally known as the writer of the weekly Parade journal.

What Occurred: The businesses didn’t announce the monetary facets of the transaction, though Axios is reporting the acquisition is a $16-million money and inventory deal.

Parade, which was based in 1941, is distributed in tons of of Sunday newspapers throughout the nation. Athlon Media Group acquired Parade in September 2014 from Parade Media Group LLC for an undisclosed sum and rebranded as AMG/Parade.

Along with the journal, AMG/Parade Media Group’s manufacturers embrace AMG/Parade Sports activities, AMG/Parade Outside, Relish and Spry Residing.  

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Why It Occurred: The Enviornment Group, which is finest recognized to inventory buyers because the proprietor of TheStreet, said the AMG/Parade Media Group will anchor a brand new life-style vertical whereas including to the sports activities vertical tied to its Sports activities Illustrated Media Group.

“AMG/Parade’s properties carry huge attain throughout print, digital and video that would be the cornerstone of The Enviornment Group’s new Way of life vertical and additional bolster our Sports activities choices,” mentioned Ross Levinsohn, CEO of The Enviornment Group.

“Parade has been an iconic media model for 80 years – I learn it as a child in my Sunday paper and all the time anticipated the annual Parade Excessive College All-American Groups.

“At this time, via innovation and perseverance, AMG/Parade continues to ship strong content material experiences to hundreds of thousands of customers each day throughout a number of platforms,” Levinsohn added. “Their content material and partnerships with newspaper publishers across the nation speaks to the belief and worth of their manufacturers.”

The acquisition comes forward of TheMaven’s deliberate company reinvention. On Jan. 11, the corporate filed a Type S1 Registration Assertion with the U.S. Securities and Trade Fee for an uplifting IPO that seeks elevate $30 million. After the IPO, the corporate plans to rename itself as The Enviornment Group Holdings, with its shares buying and selling on the NYSE beneath the “AREN” ticker.

Photograph: Courtesy of Parade.

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