The never-ending drama that has been Great Hill Partners’ ownership of the Gizmodo Media Group sites keeps unfolding.
Paul Maidment, who was the editorial director of G/O Media (Great Hill’s holding company for the sites), announced he was stepping down to pursue entrepreneurial opportunities. His departure came days after Deadspin’s entire staff resigned in protest at his directive that they “stick to sports” in their posts.
The episode has highlighted how Great Hill’s purchase of the former Gawker sites has become a huge headache. If Great Hill is making a true private equity play then its long term plan would be to increase the sites’ profitability and sell them.
But ultimately what Great Hill is trying to sell here is a brand. And if its heavy-handed management of these sites irreparably damages that brand, making it harder to sell, no one will be happy in the end.