G/O Media Sells The A.V. Club and The Takeout to 2 Separate Companies, Majority of Staff Keeps Jobs
G/O Media has sold The A.V. Club to Paste Media and The Takeout to Static Media.
Paste Media also purchased Jezebel from G/O Media last November. Static Media is a digital content firm that specializes in food sites like Tasting Table, The Daily Meal, Mashed, Foodie and Chowhound.
“As part of our transaction agreement, Paste will be offering positions to the majority of A.V. staff members. These continued positions are something we worked diligently to include as part of the overall deal,” G/O CEO Jim Spanfeller wrote in a Tuesday memo to staff. “Unfortunately, due to Paste’s staffing plan, two staff members will not be going over to Paste and thus will be parting ways with G/O Media.”
Meanwhile, Static Media has agreed to make offers to two Takeout members, and the third staffer will be offered reassignment to another G/O Media site where they “thankfully have a suitable position,” according to Spanfeller’s message.
Business considerations that apparently appealed to G/O Media’s board of directors included “valuations that reflected a significant premium from the original purchase price of both sites and the relative position within the G/O Media stable for these two wonderful brands.”
“I am confident that both these sites will continue to thrive in their new homes,” the statement continued. “I would like to personally thank these teams for their hard work and dedication that made these sites so popular with readers. This is a special and talented group of journalists.”
G/O Media recently sold Deadspin, and the site’s new owners, European startup Lineup Publishing, did not carry over the existing staff. When Lineup Publishing made their offer, the media conglomerate was not actively shopping Deadspin.
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