Maven Closes Acquisition of TheStreet, New Jim Cramer Deal Announced
THESTREET (TST)
Last thestreet earnings: 5/14 07:00 am
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Source: Business Wire
Fourth major transaction within a year further expands Maven independent media coalition; Cramer Digital to add NFL Fantasy to product offering NEW YORK--(BUSINESS WIRE)--Maven (TheMaven, Inc.) (OTC: MVEN) (maven.io) today closed its acquisition of TheStreet, Inc. (Nasdaq: TST) (www.t.st), a leading financial news and information provider to investors and institutions worldwide. A subsidiary of Maven acquired all outstanding common shares of TheStreet for $16.5 million in cash. As previously announced, the transaction is funded through debt financing fully committed by a subsidiary of B Riley Financial, Inc. (Nasdaq: RILY).“TheStreet and Jim Cramer represent a pinnacle in market-leading financial insight,” said Maven CEO James Heckman. “Their addition to Maven’s premium media coalition highlights the strategic momentum we're building and adds another flagship to our portfolio of major media brands and nine-figure user scale. We also expect TheStreet’s reach and engagement to grow
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