Uzabase agrees to buy Quartz


TOKYO: Japanese media company Uzabase Inc said it is has agreed to buy business news website Quartz from US peer Atlantic Media in a deal valued at US$75mil to US$110mil.

The value of the deal will depend on Quartz reaching financial targets, Uzabase said in a statement.

The purchase will accelerate an overseas push by Uzabase, owner of popular Japanese news aggregator NewsPicks, which selects the day’s top stories and allows comments from users which include well-known chief executives.

NewsPicks launched a US version of its website last year as a joint venture with Dow Jones, a subsidiary of News Corp .

NewsPicks’ English-language business will in future be run by Quartz, Uzabase said. Quartz has grown rapidly since its founding in 2012 by tapping into an international and mobile-savvy audience with bite-size business stories. Over 20 million people access Quartz each month, with half its audience outside the US.

The overseas expansion is the latest by a Japanese media company.

In 2015, Japanese media group Nikkei agreed to buy Britain’s Financial Times for US$1.3bil. — Reuters

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Business , Uzabase , Japan , media

   

Did you find this article insightful?

Yes
No

Next In Business News

US corporate share buybacks are on the rise, lifting investor hopes
MITI: Govt can consider tightening Covid-19 SOPs to prevent outbreaks
Construction steel prices climb on higher iron ore cost, tight supply
KNM unit secures RM30mil supply job�
Dr Martens owners to raise US$1.78bil in London IPO
Hartalega quarterly net profit tops RM1bil for the first time as Covid-19 rages on�
IGB REIT says retail centres to bear the brunt of MCO 2.0
KLCI tumbles 20 points; over 1,100 stocks in red
Furniture maker Sern Kou sees 12.3% stake traded off-market
Bioalpha signs MoU with Zuellig Pharma for vaccine distribution

Stories You'll Enjoy


-->