Graham Holdings Co. to get Leaf Group Ltd. for $323M
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Leaf Group’s manufacturers involve Properly + Superior, Livestrong.com
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Richard Foster
Arlington-based Graham Holdings Co. introduced Tuesday that it has entered into an settlement to acquire Santa Monica, California-based customer world wide web firm Leaf Team Ltd. in a $323 million, all-cash transaction.
Graham Holdings will purchase all fantastic shares of Leaf Group’s popular inventory at $8.50 for every share. The transaction is envisioned to shut in June or July.
Leaf Group’s portfolio of creator-driven life-style manufacturers incorporate Perfectly + Great, Livestrong.com, Saatchi Art and Modern society6.
Graham Holdings is the relatives firm of the late Katharine Graham, who was the publisher and owner of The Washington Put up. Its existing holdings consist of online magazine Slate, electronic marketing company SocialCode LLC, a team of seven tv stations and bigger schooling firm Kaplan Inc. The company also holds Graham Media Group, which was previously the Publish-Newsweek Stations.
“At Graham Holdings, we seem for corporations that can prosper under our possession and Leaf Group’s selection of market and media brands make for a expanding organization that can do just that. We’re thrilled to spouse with [Leaf Group CEO] Sean [Moriarty] and his workforce and search ahead to driving worthwhile advancement at Leaf Group,” Graham Holdings CEO Timothy J. O’Shaughnessy reported in a assertion.
Sean Moriarty, CEO of Leaf Team, mentioned, “We could not be more pleased to be signing up for forces with an organization with these types of a prosperous heritage and shared dedication to excellence. Collectively, we appear forward to continuing to build on the solid momentum Leaf Group created over the past 12 months, with the supplemental resources and know-how of Graham Holdings aiding us more grow the arrive at of our younger makes and innovate for our shoppers, creators and audiences.”
