Wednesday, March 13, 2019

Spirited Media sells Denverite, plans to sell other newsrooms


Spirited Media has sold Denverite to Colorado Public Radio, according to Chris Krewson, the vice president of strategy at Spirited Media. The news organization will operate under new management as of March 11.
Virginia-based Spirited Media is also in talks with possible buyers for its other newsrooms:  Billy Penn, which started in Philadelphia in 2014, and The Incline, which started in Pittsburgh in 2016.
The company says it’s moving further into the consulting business.
“There is more money out there for companies like ours to earn helping others do what we do via consulting than continuing to raise money to expand into new markets,” said Krewson in a post on medium.com.
Denverite has had Spirited Media’s biggest membership program, with nearly 1,200 contributing, Krewson said. 

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