Quartz Sold by G/O Media to 4th Owner Since 2018, Editorial Staff Axed

Quartz is changing hands again, with G/O Media selling the business news-focused site to Redbrick, a Canadian software company, on Friday. Redbrick is also acquiring The Inventory, a site dedicated to deals on consumer products from running shoes to electric toothbrushes, as part of the deal.

As part of the deal, all remaining editorial staff were let go with the sole exception of editor-in-chief Dan Hirschhorn.

In a statement, the GMG Union slammed G/O CEO Jim Spanfeller, who they accused of “loading [Quartz] up with AI slop” prior to the sale, calling it “a new low for a company that has tried to disrespect, undermine, and exploit its newsroom at every turn.”

“G/O management’s most cynical display yet comes in the middle of negotiations for our next contract. We’re heartbroken over the loss of more incredible colleagues as Spanfeller continues his race to the bottom and will continue fighting for a fair contract for those who remain,” the Union added.

For his part, Hirschhorn toed the company line, writing on X, “The way we connect with audiences is evolving and today marks a new chapter for Quartz as we work with Redbrick to help shape the future of media as the landscape rapidly transforms.”

Terms of the deal were not disclosed. This is the fourth time Quartz has been sold in seven years.

“As the media landscape continues to shift, the only way to survive and thrive is by embracing the advancements in innovation to connect and engage with audiences,” Redbrick CEO Tobyn Sowden said in a statement.

He added: “Redbrick’s portfolio will serve as the foundation for the future of media, enabling media companies like Quartz to develop direct relationships with audiences, deliver personalized experiences wherever people are watching, and create a more sustainable ecosystem with better advertising touchpoints.”

Redbrick has been looking to expand its digital media footprint recently, with the company acquiring newsletter ad platform Paved last month. Quartz will now be integrated with Paved, Redbrick said in its announcement of the deal, to connect it with “Paved’s premium marketplace of top advertisers like Uber, DoorDash, and Salesforce, and better monetize its newsletter subscription base of more than one million opt-in members.”

Friday’s deal marks the latest sale for G/O Media, which has been busy offloading sites from its portfolio of media brands in recent years. The trend started in 2023, when G/O Media sold Lifehacker to Ziff Davis, and has continued since then with the sale of Splinter, The A.V. Club, Jezebel, Deadspin, and Gizmodo, among other sites. The two remaining sites under G/O Media’s umbrella are The Root and Kotaku.

Quartz, meanwhile, will become a part of Redbrick only three years after it was sold to G/O Media. The website launched in 2012 and was later sold Uzabase in 2018 for between $75 million to $110 million, Axios reported; Quartz’s management bought the outlet back from Japan-based Uzabase in 2020, before making selling it for less than $10 million to G/O Media in 2022.

“For over a decade, Quartz has covered the biggest news stories essential to the business leaders of today and tomorrow,” Quartz editor-in-chief Dan Hirschhorn said in a statement. “The way we connect with audiences is evolving and today marks a new chapter for Quartz as we work with Redbrick to help shape the future of media as the landscape rapidly transforms.” 

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