NewsBlack-Owned Sundial Media Group Acquires Refinery 29

Black-Owned Sundial Media Group Acquires Refinery 29

The company is already home to Essence, Afropunk, Girls United, and BeautyCon.

Sundial Media Group (SMG) is expanding its portfolio. The Richelieu Dennis-owned company has officially added Refinery 29 to its slate.

SMG is already home to many Black and women-focused platforms, including Essence, Afropunk, Girls United, and BeautyCon. Now, the conglomerate will include Refinery 29 and its vast audience centering on women. Prior to its acquisition, the publication belonged to Vice Media Group. There has also been speculation that Dennis was in talks to buy Revolt TV from Sean “Diddy” Combs.

According to a press release obtained by Afrotech, Refinery 29 will continue to grow as a standalone entity within SMG. Dennis released a statement sharing his excitement to bring the platform into its media family.

“We’re very excited about the expansive ecosystem we’re building at Sundial Media Group. R29 is an incredible brand with a phenomenal team that will play an important role in reimagining how media serves the need for connection, culture, and commerce in these distinct, but complementary communities of the New General Market,” shared Dennis.

Refinery 29 also gains a new CEO to facilitate its operations. Cory Haik, the former chief operating officer at Vice, will take over to further the platform’s reach and female-driven voice.

Essence congratulated SMG’s newest addition, showcasing solidarity as the platform transitions and aims to thrive with the media company.

“On behalf of #EssenceVentures, a division of Sundial Media Group (SMG) we are excited to welcome Cory, the Refinery 29 team and their community to the SMG family,” captioned the post. “While we recognize and will maintain the unique offerings of each brand, we will also activate the synergies that unite us around shared impact and implement those with care and authenticity, now and for generations to come.”

They ended the celebratory post with a proverb, emphasizing community and support among the brands.

“There is an African proverb that sums it up well, ‘If you want to go fast, go alone. If you want to go far, go together.’ Stay tuned for all that together will bring us, by bringing us together,” shared the publication.

While no word of any upcoming collaborations, the news is a mark of success for the Black-owned media conglomerate.

RELATED CONTENT: Game Changing Moves with Richelieu Dennis

Source: Black Enterprise

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