G/O is profitable, growing, and eager to welcome all of us across the company. There are no layoffs connected to the sale, nor planned once we integrate. In a letter to employees, he wrote that the deal would see no layoffs, and “all current employees of Quartz who do come along will be eligible for deal bonuses from the proceeds of the sale, totaling more than $1 million”.Įveryone at Quartz is coming along for this next chapter. Zach Seward, co-founder and CEO of Quartz, will stay on at the company as Quartz’s editor-in-chief and general manager. Jim Spanfeller, the chief executive of G/O Media, told the New York Times that his company is “focused on buying websites that broaden G/O’s editorial focus and expand into new categories, and at the top of that list is business journalism.” Quartz’s expertise in newsletters fits well with G/O Media – the owner of websites that once belonged to Gawker Media – as well as Quartz’s respected global business journalism, which has the potential to lure subscribers and valuable advertisers to G/O Media. The move came after Quartz’s own internal data showed that three-quarters of members preferred its newsletters, which had become its biggest platform for traffic. It comes at a time of disruption for Quartz, with the publisher earlier this month dropping its four-year-old member paywall and refocusing on its suite of member emails. In an undisclosed deal, business news site Quartz has been sold to G/O Media, the publisher of Gizmodo, AV Club, Jezebel, The Root, Deadspin, and several other media brands.
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