Daily Mail sells Elite Daily to Bustle, which becomes Bustle Digital Group
By Lisa Lacy
Media company Daily Mail and General Trust (DMGT) said it sold Elite Daily, a publisher of content for millennials, to Bustle Digital Group, a digital destination for millennial women.
DMGT acquired Elite Daily in January 2015 to boost its appeal to younger consumers, but announced it planned to “increase its portfolio focus” in December 2016. That’s also reportedly when the Daily Mail wrote down all of its investment and took a $31m loss on the deal, citing poor performance.
“The sale of [Elite Daily] to [Bustle Digital Group] is another step in delivering a more streamlined group, unlocking Read full story ›
Source: The Drum
