Bloomberg Media Makes First Acquisition in 10 Years, Secures CityLab From The Atlantic
The brand will continue to operate as a standalone entity
Another media acquisition is afoot. Bloomberg Media intends to purchase CityLab, a brand from The Atlantic that was created in 2011 as a standalone website devoted to covering cities and how they are innovating for the future.
The transaction is expected to close by the end of the year, and financial terms of the arrangement were not made public. It’s also the first acquisition the publisher has made since itacquired BusinessWeek in 2009 from McGraw-Hill for a reported $5 million. The CityLab brand will have access to Bloomberg Media’s footprint, which has arms in digital, TV, radio and print.
Sara Jerde
Sara Jerde is publishing editor at Adweek, where she covers traditional and digital publishers’ business models. She also oversees political coverage ahead of the 2020 election.
