MarketWise to Wind Down Legacy Research Business [MarketWatch]
MarketWise, Inc. - Class A (MKTW)
Company Research
Source: MarketWatch
The reorganization, which includes the closure of Legacy Research subsidiary brands, is expected to be completed in the first half of the year, the financial research company said. Advertisement The operation has 104 employees, representing about 18% of MarketWise's total, who will be either offered a new role or have their positions eliminated. MarketWise said the closure of Legacy Research is in response to what it described as misconduct and demonstrates a commitment to providing reliable and independent financial research to subscribers. The company said it would make every effort to serve existing Legacy Research customers by offering similar products published by other MarketWise brands. It added net income for Legacy Research was in decline throughout 2023 and totaled about $9 million for the last six months of the year. MarketWise said it is currently unable to estimate the cost of the reorganization and wind-down and the impacts on the company's overall results of
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MKTW
Analyst Actions
- 3/28/24 - UBS
MKTW
Sec Filings
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form DEF
- 3/21/24 - Form 4
- MKTW's page on the SEC website