Crain Communications has acquired the cannabis financial news website Green Market Report. Green Market Report was launched in 2017 by co-founders Debra Borchardt, a financial journalist and former Wall Street executive, Cynthia Salarizadeh, a seasoned public relations expert and legal cannabis industry insider, and Vince Pitetti the co-founder of CrowdFund Connect. The acquisition will be finalized on Sept. 30, 2021.
“We are excited to add Green Market Report to our now 21-brand portfolio,” said KC Crain, president, and CEO of Crain Communications. “They focus on the financial, business, and economic side of the cannabis industry, so it’s a natural fit with our other business brands.”
Green Market Report, which includes a network of freelance journalists and garners 150,000 monthly page views, is led by Borchardt and is located in New York. GMR won a 2020 Gold Stevie Award for Website of the Year and is a finalist this year for the Folio Magazine B2B Website Award.
“Crain is one of the highest quality business news organizations in the country,” said Borchardt, CEO and co-founder of Green Market Report. “Their team, resources, and respected journalism will make the perfect partner as Green Market Report continues into the future. The combination of Crain’s experience and Green Market Report’s expertise will turn us into a leader in the industry, and I’m personally excited to be a part of that growth.” Borchardt will continue to oversee GMR as the Executive Editor. In 2020, she was awarded a Silver Stevie Award for Female Executive of the Year – Business Services.
“Remaining a trustworthy brand as a media company while trying to profit is a challenge in today’s environment,” said co-founder Cynthia Salarizadeh. “We kept a lean operation that remained unbiased against all odds. Crain’s is one of the most respected business media publishers in the world. Now, Green Market Report will grow to become everything it was envisioned to be with all of the resources necessary for success, and we could not be more proud that it is with Crain Communications.”
This deal comes two years after Crain’s acquisition of GenomeWeb — an online news organization covering trends in genome sequencing — in 2019, both contributing to the company’s overarching goal of portfolio diversification.
Green Market Report will join Crain Communication’s family of brands that spans across 10 offices and includes 650+ employees, with headquarters in Detroit and additional main offices in Chicago and New York.