A major acquisition in the digital media space in Canada. And it involves us!
Daily Hive has been acquired by ZoomerMedia, which completed the acquisition of blogTO earlier this year.
In a release, Zoomer says “that it has completed the acquisition, in trust, of all the shares of Buzz Connected Media Inc., owner and publisher of Daily Hive, the leading digital source for local news, culture, and what’s happening in Western Canada. Daily Hive is the dominant player in Vancouver, Edmonton and Calgary, and also publishes local content in Toronto and Montreal.”
The new combination of blogTO and Daily Hive creates the largest Millennial and Gen Z-focused media platform in Canada and provides ZoomerMedia with a national audience that is unrivalled in terms of demographic, online and social media reach and engagement.
It will be the go-to destination for clients and partners looking for a full spectrum of generational coverage.
“In aggregate this acquisition will take us to 660 million+ page views a year,” says ZoomerMedia founder and CEO Moses Znaimer. “As I said when we acquired blogTO, I’m a strong believer in the local. Zoomer Radio and Classical FM already bring local news and life to the older demos. blogTO, and now Daily Hive, do that for the younger cohorts. Combined, they make an unparalleled offering, for the public as well as the advertiser.”
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“When Moses shared his digital vision for Canada, I knew that joining Zoomer was the next step in Daily Hive’s journey,” says Karm Sumal, co-founder and CEO of Daily Hive. “The chance to work with a Canadian legend and pioneer of local media is an opportunity we were not going to pass up.”
“Our mission for Daily Hive has always been to authentically serve the many communities across Canada in which we operate, and grow to be this country’s largest digital news platform. Today, we have taken a giant leap forward towards this goal. And the Canadian media landscape will never be the same again. Only Postmedia and CBC are ahead of us now, and we are coming for them!”
Founded in 2008, Daily Hive is a leading local digital publisher in Canada; we see an average of 24 million page views per month and have 3.1 million followers across Instagram, TikTok, Facebook, and Twitter.
The transaction is closed in trust, pending only the approval of the TSX Venture Exchange.