An investment firm is potentially looking to increase Black ownership in the media industry.
Mar 14, 2023
It’s time for Black-owned media to have more control within the industry, and this first-of-its-kind collective is launching an inspiring initiative to help us accomplish that. Today, Group Media — a unique media collective and accelerator dedicated to the advancement of Black-owned media properties — has launched with a mission to increase Black ownership and help Black media conglomerates claim their rightful place in this space. Founding member companies of Group Black include ESSENCE, Holler, PlayVS, Afropunk, The Shade Room and Baller Alert. Additionally, Holler’s Travis Montaque joins as co-founder, director and CEO alongside serial entrepreneur Richelieu Dennis, Group Black’s co-founder and chairman. As part of its launch, Group Black is kicking off its buying power with an inaugural $75 million target media investment from GroupM, a press release reports, which is also part of its effort to deploy at least $500 million in Black-owned media by the end of next year. “Our...
Jun 29, 2021