Business Insider Parent Nears Deal to Buy Controlling Stake in Morning Brew

Business Insider parent Insider Inc. is nearing a deal to acquire a controlling stake in Morning Brew, a news startup known for a popular email newsletter on business and finance, according to people familiar with the situation.

The terms the companies are discussing would value Morning Brew at over $75 million, including certain performance incentives, the people said. The companies haven’t completed a deal, and the talks could still fall apart.

The sale of Morning Brew is a bright spot in a digital-media sector that has faced a number of challenges. The online-ad market was already under pressure before the coronavirus pandemic exacerbated the situation.

Newsletters, including those operated by companies like Morning Brew, theSkimm and traditional media outlets, are viewed as attractive, partly because they can help companies expand the reach of their content and recruit new subscribers. Newsletters often command higher advertising rates than traditional display ads in

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AT&T Monetizes Majority Stake in Central European Media Enterprises

Czech investment firm PPF Group N.V. today completed its acquisition of Central European Media Enterprises Ltd. (CME). With the transaction closed, AT&T Inc.* (NYSE: T), which was the largest shareholder in CME, received $1.1 billion in cash and no longer backstops approximately $575 million in CME debt. AT&T acquired its stake in CME with the acquisition of Time Warner, now WarnerMedia, in 2018.

The sale is consistent with AT&T’s ongoing efforts to monetize non-core assets to drive incremental shareholder value. The company plans to continue to focus on lowering its net debt to strengthen its balance sheet and will remain opportunistic around opportunities to further improve its borrowing costs.

AT&T plans to announce third quarter 2020 results on Thursday, October 22, 2020. The company’s earnings call will begin at 8:30 a.m. ET that day. Shareholders can listen to a live broadcast via the internet at AT&T Investor Relations.

*About AT&T

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