By Najat Kantouar
Brave Bison is buying influencer marketing agency The Fifth from News UK & Ireland for up to 7.6 million pounds ($9.7 million) in a deal that will also see the newspaper publisher become a top-10 shareholder in the London-listed company.
Under the agreement, News UK--part of global media company News Corp--will be issued with 1 million pounds in new Brave Bison ordinary shares, representing a 3.1% stake in the social and digital media company. It will also receive 575,000 pounds in cash, Brave Bison said Thursday.
Additionally, News UK will receive 25% of profits generated by The Fifth over the next three years, capped at 6 million pounds.
The two companies will also enter into a marketing and technology partnership.
For the year ended June 30, The Fifth generated 6.2 million pounds of revenue. The acquisition is expected to contribute positively to Brave Bison in the current financial year.
News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
April 10, 2025 06:23 ET (10:23 GMT)
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