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😮‍💨 September roared onto the stage this week, featuring lots of deal news, not least that Verizon deal, which could still have a wrinkle, and we have it all for you! Let's dive in.  

Sept. 3 — Content Partners wants to be a supporting cast member for Hollywood firms by offering the small and mid-size financing that bigger banks stay away from. Read the newsletter

Sept. 4 — Exclusive: Aditude acquired Hashtag Labs in a deal that combines two ad tech firms that support publisher monetization.  Read the newsletter

Sept. 5 — Verizon agreed to buy Frontier Communications for $20 billion, strengthening Verizon's fiber businesses to help it better compete with rivals like AT&T. Read the newsletter

Sept. 6 — The NWSL's early renewal of its labor deal removed a potential obstacle in scoring another hefty rights increase for its next media deal. Read the newsletter

Media

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Sept. 3 — Fundraising by health care-focused private equity funds outpaced their venture capital peers in the first half of 2024, driven by LP interest and increased competition. Read the newsletter

Sept. 4 — Exclusive: Lightforce, a manufacturer of 3D-printed dental devices, raised $50 million of growth capital from Trinity Capital. Read the newsletter

Sept. 5 — Exclusive: Thatch raised a $38 million Series A led by Index Ventures and General Catalyst, CEO Chris Ellis told Axios. Read the newsletter

Sept. 6 — Exclusive: Behavioral health tech company Kipu Health acquired Hatch Compliance to beef up its compliance management capabilities. Read the newsletter

Health tech

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Sept. 3 — Haun Ventures general partner Diogo Mónica has seen increasing competition in the crypto venture market as traditional institutional funds and digitally native crypto funds jockey for the best deals. Read the newsletter

Sept. 4 — Exclusive: Flex, which provides infrastructure for accepting HSA and FSA payments, raised $3.2 million in seed funding, it told Axios. Read the newsletter

Sept. 5 — Cobre, a Colombia-based company that has made its own real-time payments rails, raised $35 million in Series B funding led by Oak HC/FT. Read the newsletter

Sept. 6 — Exclusive: NetNow, a Toronto-based trade credit automation platform for the lumber and building materials industry, raised C$1.8 million in pre-seed funding. Read the newsletter

Fintech

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Sept. 3 — Galy, a Boston startup developing lab-grown cotton,  raised a $33 million Series B to research how to mass produce the low-irrigation material. Read the newsletter

Sept. 4 — Private equity giant Blackstone plans to acquire Australian data center operator AirTrunk for $16.1 billion from Macquarie Asset Management and the Public Sector Pension Investment Board. Read the newsletter

Sept. 5 — Exclusive: Switch Bioworks raised a $17 million seed round to develop more sustainable fertilizers, marking one of the largest seed rounds this year in the slumping ag-tech sector. Read the newsletter

Sept. 6 — Boston-area battery tech developers 24M and 6K each announced eight-figure equity raises, convincing private investors to pony up for significant late-stage rounds while the IPO window remains closed. Read the newsletter

Climate

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Exclusive: Flashfood, a marketplace that helps retailers sell food approaching its "best by" sell date, hired Chris Taylor as chief financial officer. Read the newsletter.

LiquiDonate, a startup that helps retailers sustainably manage returns and inventory, raised a $3.75 million seed. Go deeper

The proposed merger between Circle K parent Couche-Tard and 7-Eleven parent Seven & i Holdings would spur a wave of M&A. Go deeper

World Emblem, a producer of patches for fashion and uniforms, purchased Hero's Pride, a maker of of emblems for first responders. Go deeper

7-Eleven parent Seven & i rejected Alimentation Couche-Tard's offer on the grounds it undervalues the company and does not address antitrust concerns. Read the newsletter

Retail

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So much important thought leadership and journalism this week. Put on football, or baseball, or soccer, or tennis, and enjoy some standout reads. 

The Boston Globe's spotlight investigation of Steward (Boston Globe)

OpenAI is looking for new ways to pay its bills (Axios)

Number of retirement millionaires hit record high (Axios)

Buyout shops go from boom to bust to…meh (WSJ)

All the tech giants say their chatbot is the hot one (Axios)

NYC's biggest taxi insurer is insolvent, risking transit meltdown (Bloomberg)

SEC charges six credit rating agencies with significant recordkeeping failures (SEC)

Weekend reading: Worthy of your time

Illustration of a stack of three books with "Weekend reading" written on the spines.

Media Deals reporter Tim Baysinger took a break from media rights and Paramount contretemps in late August to capture this picture of the beautiful Hudson River valley on a hike to Anthony's Nose. 

Postcard from New York 

Photo of the Bear Mountain bridge over the Hudson River in New York state

The Bear Mountain Bridge from Anthony's Nose. Photo courtesy of Tim Baysinger

It is the first weekend of American football season, but sports fans should be sure not to miss Alex Morgan's final game. She created a legacy that should not be ignored. 

🎷 53 years ago this week, the big man joined the band. Take a moment to enjoy "Tenth Avenue Freeze-Out."

1. Media

2. Health tech

3. Fintech

4. Climate

5. Retail

6. Weekend reading: Worthy of your time

7. Postcard from New York

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September 07, 2024

1. Media