Crain Communications, one of the world’s largest global business media conglomerates, has acquired the Green Market Report, a digital media brand that covers financial news connected to the booming cannabis industry.
The terms of the sale, including price, were not disclosed. The acquisition will be finalized Sept. 30, 2021, according to Forbes.
The New York-based Green Market Report was launched in 2017 by co-founders Debra Borchardt, a financial journalist and former Wall Street executive, and Cynthia Salarizadeh, a public relations expert and cannabis industry insider.
Since its inception, Green Market Report has been viewed by journalists as well as investors as among the most trusted business news sources in the cannabis media industry.
Right Move At The Right Time
The entry of a traditional media conglomerate like Michigan-based Crain Communications into the dynamic world of cannabis is yet another indication that the mainstream media, not to mention a slew of corporations including Wall Street companies, are apparently confident that federal legalization may happen sooner rather than later.
Successful Run But Challenging
"I am truly excited about the future of the Green Market Report,” Borchardt said. “With Crain's resources and expertise, we will be able to grow and expand. It has certainly been a challenge, but we are so proud of what we built. By staying true to our mission of unbiased, quality journalism we grabbed the attention of the mainstream media and showed them the importance of the cannabis industry.”
The Green Market Report includes a network of freelance journalists and garners 150,000 monthly page views, by its own account.
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