Barry Diller has got his hands on a print media giant. The billionaire mogul’s digital firm, IAC, reached a deal to acquire Meredith—the publisher behind titles such as People, Entertainment Weekly and Better Homes and Gardens—in a deal valued at approximately $2.7 billion. IAC will merge Meredith with its existing digital publishing business, Dotdash. The combined business will be led by...
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The Coming Wave of Cram Downs
What do Good Eggs, a startup that delivers $4.99 broccoli bunches, and Tonal, a fitness startup that sells $3,995 exercise equipment, have in common—other than a business model subsidized by venture capital? They’re both engaged in a painful type of financing known as a “cram down.” If you grew up in the era of easy money, ultralow interest rates and 100 times multiples, it’s possible you’...
Slack’s Sales Chief Departing Salesforce Next Month
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