Grimes, McGovern & Associates represented Crain Communications in their acquisition of the Green Market Report, a leading cannabis news & events company.
CRAIN COMMUNICATIONS ACQUIRES CANNABIS FINANCIAL NEWS BRAND GREEN MARKET REPORT
FOR IMMEDIATE RELEASE
September 23, 2021: NEW YORK—Crain Communications has acquired Green Market Report, a digital media brand that covers financial news of the rapidly growing cannabis industry. Green Market Report was launched in 2017 by co-founders Debra Borchardt, a financial journalist and former Wall Street executive, and Cynthia Salarizadeh, a seasoned public relations expert and legal cannabis industry insider. The acquisition will be finalized on Sept. 30, 2021.
“We are excited to add Green Market Report to our now 21-brand portfolio,” said KC Crain, president and CEO of Crain Communications. “They focus on the financial, business and economic side of the cannabis industry, so it’s a natural fit with our other business brands.”
Green Market Report, which includes a network of freelance journalists and garners 150,000 monthly page views, is led by Borchardt and located in New York.
“Crain is one of the highest quality business news organizations in the country,” said Borchardt, CEO and co-founder of Green Market Report. “Their team, resources, and respected journalism will make the perfect partner as Green Market Report continues into the future. The combination of Crain’s experience and Green Market Report’s expertise will turn us into a leader in the industry, and I’m personally excited to be a part of that growth.”
This deal comes two years after Crain’s acquisition of GenomeWeb — an online news organization covering trends in genome sequencing — in 2019, both contributing to the company’s overarching goal of portfolio diversification.
Green Market Report will join Crain Communication’s family of brands that spans across 10 offices and includes 650+ employees, with headquarters in Detroit and additional main offices in Chicago and New York.
About Crain Communications Inc
Crain Communications is a privately held media company that produces trusted and relevant news publications, lead generation, research and data products, digital platforms, custom publishing, and events with uncompromising integrity. Reaching 78 million readers globally, the company’s brand portfolio consists of 21 publications. Many of Crain’s brands are the most influential media properties in the verticals they serve including Automotive News, Ad Age, Modern Healthcare, Plastics News, and Pensions & Investments. Headquartered in Detroit, the company has 650+ employees in 10 locations delivering exceptional news content over a variety of platforms to empower the success of its readers and clients. To learn more about Crain Communications, visit crain.com.
Contact: Ariel Oltean
SOURCE: Crain Communications
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