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Sundial Media Group LLC acquires Refinery29, further diversifying media landscape

Apr 18, 2024•about 1 year ago

Acquiring Company

Sundial Media Group

Acquired Company

Refinery29

New YorkBrooklynPublishingE Commerce

Description

Sundial Media Group LLC, a division of The Sundial Group of Companies, has announced the acquisition of Refinery29, a creative digital media and entertainment platform with a multigenerational focus on women. This acquisition expands the reach of Sundial’s media properties and further affirms their commitment to empowering authentic voices of creators and communities shaping culture in the New General Market. Refinery29 will operate as a standalone business within Sundial Media Group, and Cory Haik has been named CEO of Refinery29.

Company Information

Company

Sundial Media Group

Location

New York, New York, United States

About

Sundial Media Group LLC (SMG) is a division of The Sundial Group of Companies, led by Executive Chair Richelieu Dennis. It is a vertically integrated media, technology, and experiential company that includes various media properties and works in partnership with the Global Black Economic Forum (GBEF), including Academy For Advancing Excellence, and with the New Voices Foundation. SMG's mission is to create opportunities, products, and services that connect communities through content, culture, and commerce.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed