Dec 17, 2019

Attention Capital is acquiring Girlboss

Photo by Cindy Ord/Getty Images for Girlboss Rally NYC 2018

Attention Capital, the new media and technology investment firm, announced Tuesday morning that it's acquiring Girlboss, a media company geared towards female millennials that was founded by female fashion entrepreneur Sophia Amoruso.

The big picture: It's the latest example of a venture group consolidating smaller media startups or struggling legacy media brands.

  • Attention Capital, which launched this past spring and is co-founded by Joe Marchese, is looking to only invest in companies that shape the attention economy.
  • The company partnered with James Murdoch's investment firm in August to acquire a controlling stake in Tribeca Enterprises, the producer of the Tribeca Film Festival.

The goal of the acquisition is to grow the brand and scale to new platforms, products, and events globally.

  • Girlboss's leadership team and headquarters will remain the same. The company plans to hire more people in technology, audio, events and sales.

What's next: As Axios has previously reported, Attention Capital is looking to raise nearly $500 million to invest in everything from measurement companies to news brands and entertainment upstarts, per sources.

Go deeper: Media mergers highlight arbitrary private valuations

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A year of media upheaval

Illustration: Sarah Grillo/Axios

2019 was a transformative year for the U.S. news media industry, but it was also one of the most turbulent points in its history.

The big picture: There were enormous business challenges, which resulted in an unprecedented number of layoffs, desperate product maneuvers and fire-sale deals.

Go deeperArrowDec 21, 2019

ViacomCBS buys minority stake in Miramax

ViacomCBS announced Friday a $375 million deal to acquire a 49% stake in Miramax, the television and movie production company founded by Hollywood producer Harvey Weinstein, from Qatar-based beIN Media Group.

Why it matters: It’s ViacomCBS’s first post-merger deal, and it will strengthen the library and resources of the company’s movie studio, Paramount Pictures.

Go deeperArrowDec 20, 2019

The venture capital party is not over

SoftBank chairman and CEO Masayoshi Son. Photo: Alessandro Di Ciommo/NurPhoto via Getty Images

"The venture capital party is over" was the gist of countless mainstream and social media predictions in October, following WeWork's IPO collapse and SoftBank's difficulties in raising over $100 billion for its second Vision Fund.

Why it matters: They were wrong.

Go deeperArrowDec 17, 2019