Crain Communications announced Thursday that it has agreed to acquire Green Market Report, which covers financial news from the rapidly growing cannabis industry, for an undisclosed amount.
Green Market Report was launched in 2017 by the co-founders Debra Borchardt, a financial journalist and former Wall Street executive, and Cynthia Salarizadeh, an experienced public relations expert and legal connoisseur of the cannabis industry.
The acquisition will end on September 30.
“We are very pleased to add Green Market Report to our portfolio of 21 brands,” he said. KC Crain, President and CEO of Crain Communications, in a statement. “They focus on the financial, commercial and economic side of the cannabis industry, so it fits in perfectly with our other commercial brands.”
Green Market Report, which includes a network of freelance journalists and gets 150,000 monthly page views, is run by Borchardt and based in New York.
“Crain is one of the highest quality business news organizations in the country,” said Borchardt, CEO and co-founder of Green Market Report, in a statement. “Your team, resources and respected journalism will be the perfect partner as the Green Market Report continues into the future. The combination of Crain’s expertise and Green Market Report expertise will make us an industry leader, and I am personally excited to be a part of that growth. “
This deal comes two years after Crain acquired GenomeWeb, an online news organization that covers trends in genome sequencing, in 2019.