In tandem, Roundtable has agreed to buy a 49.5% stake in Paradium for around $89 million. The deals are contingent on Roundtable raising the sum by the fourth quarter of this year.
The tie-up means Roundtable would take over much of Paradium’s operations, including ad sales, engineering, and monetization, and move its brands, including Parade, TheStreet, Men’s Journal, and Athlon Sports, onto the Roundtable platform in exchange for a share of their revenue, according to Roundtable CEO James Heckman.
