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Sundial Media Group Sparks Internal Division with Refinery29 Acquisition

May 30, 2024•about 1 year ago

Acquiring Company

Sundial Media Group

Acquired Company

Refinery29

New YorkBrooklynPublishingE Commerce

Description

Sundial Media Group, the parent company of Essence magazine, has caused internal division among staff following its acquisition of women’s lifestyle company Refinery29 from Vice Media. The workplace grievances at Essence emerge following the acquisition, with reports of internal division and leadership challenges.

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
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Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
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Success factor
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