Crypto News Site Decrypt and Rug Radio to Merge
Crypto and Web3 news site Decrypt and decentralized, creator-focused media project Rug Radio are set to merge their operations next year. The merger will allow the two platforms to combine forces while maintaining their brand independence. According to a report from Axios, the merger is seen as complementary, as Decrypt’s text-focused content on its website will pair well with Rug Radio’s audio and video podcast content.
Under the new holding company, Josh Quittner, CEO of Decrypt, Farokh Sarmad, founder and co-CEO of Rug Radio, and Loxley Fernandes, Rug Radio’s other CEO, will retain their leadership positions. Both brands will also maintain their branding, identity, and staff.
The merge is said to be a “merger of equals,” with each company claiming around $3 million in annual revenue from ad sales. Following the merger, all employees from both organizations will continue working for the newly formed entity.
Active Time for Crypto Media Deals
The announcement of the merger comes at a time when crypto media deals are particularly active. Recently, Bullish, a crypto exchange run by Ex-NSE President Tom Farley, acquired crypto news outlet CoinDesk in an all-cash deal. Additionally, Singaporean venture capital firm Foresight Ventures purchased a majority interest in The Block.
Hot Take: The Future of Crypto Media
The merger between Decrypt and Rug Radio signifies the growing trend of consolidation within the crypto media industry. By combining their strengths in text-based content and audio/video podcasts, the two platforms aim to create a comprehensive source of news and information for the crypto community.
This move also highlights the increasing value of independent media projects in the decentralized space. As more individuals and organizations embrace Web3 technologies, the demand for diverse and reliable sources of crypto-related content continues to grow. The merger between Decrypt and Rug Radio is a strategic step towards meeting this demand and providing high-quality media offerings to crypto enthusiasts worldwide.
Theon Barrett shines as a distinguished crypto analyst, accomplished researcher, and skilled editor, making significant strides in the field of cryptocurrency. With an astute analytical approach, Theon brings clarity to intricate crypto landscapes, offering insights that resonate with a broad audience. His research prowess goes hand in hand with his editorial finesse, allowing him to distill complex information into accessible formats.