The MeidasTouch Network has announced it has completed a round of “strategic investment”, a first for the organization.
“At a time when newsrooms across the country are being gutted and journalists are facing mass layoffs, the MeidasTouch Network is doing the opposite: investing in high-quality journalism and independent voices,” a statement from the company reads.
The outlet shared that the investment round was led by Soros Fund Management, as well as a group of other U.S.-based investors.
It is not the first time the Soros Fund Management has invested in an American media company. It holds the largest share of Audacy. In 2022, it also invested in Crooked Media, a liberal digital outlet similar to MeidasTouch Network.
MeidasTouch says it will continue to “maintain full editorial and creative control” of its content, but will now have greater resources at its disposal.
“This is a defining moment for MeidasTouch, and we are thrilled to close this round because it gives us the resources to accelerate what we’ve been building—one of the most impactful newsrooms in the country and a truly independent media network at scale,” the company added. “The MeidasTouch Network has already become the most-watched digital news network in the United States, with billions of views on YouTube and one of the most downloaded audio podcasts in the world.
“This investment allows us to think bigger. We are now exploring acquisitions, investing in other independent creators and journalists, and building a network where reporters can do real journalism without compromise. We’re now just getting started.”
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