E&E News Is Acquired by Politico
Oaklins DeSilva+Phillips client, E&E News, the renowned news organization focused solely on energy and the environment, has been acquired by POLITICO, the world’s leading global news operation and information service specializing in politics and policy.
The acquisition will unleash unprecedented coverage of the energy and environmental sectors, accelerating the growth of the best-in-class news and intelligence readers have come to depend on from POLITICO and E&E News.
POLITICO will keep the well-established E&E News brand and its esteemed journalism in place. POLITICO will invest resources to expand E&E News’ audience and impact, as well as explore opportunities how it can enhance or supplement POLITICO’s other products from AgencyIQ to its advertising business.
The purchase reflects Publisher and Executive Chairman Robert Allbritton’s vision to continue to grow POLITICO’s editorial and business impact in a key area of focus for policymakers, businesses, and professionals across the globe, and ensures that POLITICO can offer its readers and subscribers the most robust energy and environmental coverage in the world.
“Our mission is to be the preeminent source of politics and policy news and information and to translate the decisions being made in power centers across the globe for the most influential audience in the world,” said Robert Allbritton. “We are doubling down on our policy coverage by investing in journalism and growing our product offerings in the energy and environmental policy space, which touches all aspects of the economy and government.”
Michael Witt, the Co-founder and Publisher of E&E News said, “We are excited to join forces with POLITICO. I believe the combination of E&E News’ trusted, independent and comprehensive journalism, and POLITICO’s ambitious reporting, influential audience and innovation, will provide unparalleled and unique coverage of energy and environmental issues that our subscribers and the world need right now.”
Jeffrey Dearth, the lead banker on the transaction for Oaklins DeSilva+Phillips said, “Michael Witt and his leadership team created a successful B2B digital subscription business based on an unrivaled commitment to editorial excellence and a laser-like focus on the content needs of its readers. POLITICO is the ideal strategic acquirer to build upon that success and take E&E News to even greater heights, particularly given the growing importance of Energy and Environment issues facing the world. This was truly a win-win transaction for all concerned and it was a privilege to be part of it.”
The top decisionmakers in government, business, NGOs, and academia have relied on E&E News for essential energy and environment reporting for more than two decades. E&E News has the largest editorial news team covering these issues in the United States, with more than 65 reporters and editors located in Washington, Houston, Dallas/Ft. Worth, Denver, New York City, Seattle, Atlanta, Minneapolis, St. Louis and Los Angeles.
Adding E&E News’ depth and reach to POLITICO’s agenda-setting reporting on energy, sustainability and the environment will open up new opportunities to expand coverage and product offerings at the intersection of policy, business and politics and reach a large new audience of subscribers. It will position POLITICO as the premier news organization covering a critical policy space that is set to be one of the most prominent political and policy agenda topics of our time.
“Energy and the environment is the story of the next generation, and the policy decisions made by major global powers today will impact our families, our businesses, and our world tomorrow and for decades to come,” said POLITICO Editor-in-Chief Matt Kaminski. “We’re excited to welcome the E&E News team and to work with the terrific journalists at E&E News to deepen and broaden our coverage of these monumental issues. They’ll be joining a dynamic news organization committed to journalistic excellence and innovation, and to building a great publication.”
Founded in 2007, POLITICO has grown to a team of nearly 600 who work across North America, more than half of whom are editorial staff. POLITICO Europe, its six-year-old European edition published through a joint-venture with Axel Springer, has grown to nearly 200 employees. Just this year, the publication started a new subscription offering focused on regulatory affairs, AgencyIQ, opened an office in Canada and launched newsletters on global affairs, sustainability, global health, and China. It expanded its policy offerings with new services on sustainability and cannabis.
Terms of the deal were not disclosed.
|Transaction Type||M&A Sell-side|