Ropes & Gray Represents Atlantic Media in the Sale of Global Business News Outlet Quartz
Ropes & Gray represented Atlantic Media in the sale of Quartz, a global business news outlet, to Uzabase, a Japanese business intelligence and media company. Quartz will assume responsibility for the English-language version of NewsPicks, a subscription business news platform, on behalf of Uzabase. The deal values Quartz between $75 and $110 million, subject to certain performance conditions. The transaction, announced on July 2, is expected to close within the next 30 days.
Quartz, founded in 2012, was created to serve a new kind of business leader with creative and intelligent journalism built for users first. The company, which has been owned and operated by Atlantic Media, has since established itself as the guide to the global economy for business professionals.
The Ropes & Gray team was led by mergers & acquisitions partner Paul Scrivano and mergers & acquisitions associate Sarah Young.