ZoomerMedia has announced its acquisition of The Peak Media Collective Inc. (PMC).
Founded in 2020 by Brett Chang, Alex Blumenstein, and Taylor Scollon, with the backing of a $350,000 seed round supported by The Logic and TechTO, The Peak’s flagship daily finance and tech newsletter boasts readership of 115,000 Canadians. Aimed at young professionals, the outlet also produces The Peak Daily, a 7-minute weekday news roundup co-hosted by Chang and Rosenthal, which has aired on Corus Radio talk stations since 2022, and Free Lunch, featuring weekly deep dive interviews which purports 100,000 downloads a month, according to a ZoomerMedia announcement. The brand also has strong followings on TikTok and Instagram.
“Business news is serious business, but I’ve been a fan of The Peak’s lighter tone, packaged along with its concise content, since I first came upon it a while ago,” said Moses Znaimer, Founder, CEO and President, ZoomerMedia, in a release. “I understand busy people and if The Peak can bring them, which is to say me, all the top daily finance and tech stories we need to know in less than 10 minutes, that’s a big idea with a big future.”
ZoomerMedia adds The Peak to its growing roster of digital publications with the acquisitions of blogTO and The Daily Hive last year, saying that together with its EverythingZoomer.com brand and legacy television and radio properties, “they amplify our ability to appeal to different generations through different platforms and genres.”
“This is an incredible opportunity to supercharge The Peak’s mission of becoming the go-to media outlet for modern business leaders and decision makers in Canada,” said Chang, in the same announcement. “Not only will Zoomer’s resources allow us to grow faster and further than we could have alone, the opportunity to learn from and work with Moses will help take our operation to the next level.”
The deal’s aggregate purchase price of $5 million is comprised of $3.5 million cash on closing and a $1.5 million promissory note.
Subscribe Now – Free!
Broadcast Dialogue has been required reading in the Canadian broadcast media for 30 years. When you subscribe, you join a community of connected professionals from media and broadcast related sectors from across the country.
The Weekly Briefing from Broadcast Dialogue is delivered exclusively to subscribers by email every Thursday. It’s your link to critical industry news, timely people moves, and excellent career advancement opportunities.
Let’s get started right now.
