Sundial Media Group Extends Its Reach, Further Diversifying the Media Landscape
18 Abril 2024 - 4:20PM
Business Wire
The media division of Sundial Group closes
its acquisition of Refinery29 from Vice Media Group
Today, Sundial Media Group LLC (SMG), a division of The Sundial
Group of Companies led by Executive Chair Richelieu Dennis,
announces the acquisition of Refinery29, a creative digital media
and entertainment platform with a multigenerational focus on women.
The 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.
SMG is a vertically integrated media, technology and
experiential company that includes Essence Ventures: ESSENCE
including Girls United and Naturally Curly; AFROPUNK; Beautycon;
Essence Studios; ESSENCE Festival of Culture; and SOKO MRKT; and
works in partnership with the Global Black Economic Forum (GBEF),
including Academy For Advancing Excellence, and with the New Voices
Foundation. With the acquisition of Refinery29, SMG extends its
mission of creating opportunities, products and services that
connect communities through content, culture and commerce.
“We’re very excited about the expansive ecosystem we're building
at Sundial Media Group. Refinery29 is an incredible brand with a
phenomenal team that will play an important role in reimagining the
ways that media serves the need for connection, culture and
commerce in these distinct, but complementary communities of the
New General Market,” said Dennis.
Refinery29 will operate as a standalone business within Sundial
Media Group. Coinciding with the acquisition, Cory Haik has been
named CEO of Refinery29. Haik is a multiple Pulitzer-Prize winning
journalist and media executive, who was most formerly the Chief
Operating Officer of Vice, News and Entertainment divisions.
“We are thrilled to join the Sundial Media Group suite of
brands, deepen our meaningful connection with audiences, and
strengthen our collective goal: to be an inclusive platform for all
women,” said Haik. “From our flagship Refinery property to Somos
and Unbothered, this is a dynamic, IP-lead media company and I look
forward to leading this impressive business to continued
growth.”
With a 19-year storied history, Refinery29's brand heritage has
been built on the reflection of its audience, their stories and the
authentic curation of retail products. The company has evolved to
become an authority in lifestyle journalism, now boasting a network
of niches across its insights agency, publishing strategy group,
talent network, e-commerce platform, and events business and
reaching over 90 million people globally. Refinery29 is a
profitable and growing business.
“Welcoming R29 into the SMG ecosystem exemplifies the African
Proverb that says, ‘if you want to go fast, go alone, if you want
to go far, go together,’” said Essence Ventures President and CEO,
Caroline Wanga. “This partnership is rooted in purpose, and ensures
continuity in the services we offer to all those that authentically
coexist at the intersection of community and culture.”
Dennis continues to say, “We’ve been admiring the work of this
R29 team for a while, and we’re excited to see what they will now
do within SMG, and with Cory officially in the CEO seat.”
With renowned brands such as ESSENCE and Girls United in its
diverse portfolio, this strategic acquisition reflects SMG’s
commitment to amplifying a full spectrum of voices and perspectives
within the multifaceted media landscape. The addition of Refinery29
further solidifies SMG's influence in shaping the narrative of
contemporary media.
The terms of the deal were not disclosed.
About Refinery29
For almost 20 years, Refinery29 has changed the way content
speaks to and represents women and underrepresented communities. As
a global platform that celebrates and challenges the world, R29,
inclusive of namesake Refinery29, Unbothered and Somos brands,
truly reflect audiences today, while identifying the shifts of
tomorrow. Across its global team of journalists and creators,
insight chasers and trend forecasters, Refinery29 engages, telling
stories across the platforms where their audiences gather most.
About Sundial Media
Group
Sundial Media Group, LLC (SMG), a division of the Sundial Group
of Companies, is a vertically integrated media, entertainment and
experiential company focused on empowering the voices and
communities leading culture in the new general market. Brands in
this ecosystem include Essence Ventures (ESSENCE including Girls
United; AFROPUNK; BeautyCon including Naturally Curly; Essence
Studios; ESSENCE Festival of Culture; and SOKO MRKT), Global Black
Economic Forum (GBEF), including Academy For Advancing Excellence,
and New Voices Fund.
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Media Contacts Rakia
Reynolds Sundial Media Group rakia@skaibluemedia.com
Caitlyn Durcan Refinery29 caitlyn.durcan@refinery29.com