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The media company G/O Media told staffers that it has sold two more of its editorial titles, The AV Club and The Takeout, according to an internal memo obtained by ADWEEK. The news was first reported by the New York Post.
It sold film and television publisher The A.V. Club to Paste Magazine, which also acquired Jezebel and Splinter from G/O Media in November. It sold The Takeout to Static Media, a digital content firm that owns food sites including Tasting Table, The Daily Meal and Chowhound.
The financial details of the transaction were not disclosed. Both transactions are expected to close later this week.
As part of the agreement, Paste Magazine will be offering positions to all but two of The A.V. Club’s staff. Static Media will be hiring two of The Takeout’s three staff, and G/O Media will reassign the third employee.
“When both Paste Media and Static Media inquired about the availability of The A.V. Club and The Takeout, G/O Media’s board of directors took their interest seriously for a variety of business considerations,” Spanfeller said in the memo.
G/O Media continues its sell-off
The sales mark the fifth and sixth properties G/O Media has sold in the last 12 months. It sold Lifehacker to Ziff Davis in March 2023, Jezebel and Splinter to Paste Magazine in November, and Deadspin to Lineup Publishing earlier this month.
ADWEEK first reported in January that G/O Media was looking to sell off its editorial properties individually after failing to find a buyer interested in the entire portfolio. Later that month, G/O Media chief executive Jim Spanfeller denied that the company planned to sell any of its titles.
The remaining properties in the G/O Media group include Quartz, The Root, Kotaku, Gizmodo, Jalopnik, The Onion and The Inventory. Their fate remains uncertain, although going forward G/O Media plans to focus its resources on “leading sites,” according to the memo.
