Atlantic Media has sold Quartz to Japanese online media group Uzabase in a deal that values the US-based business news site at up to $110m. The sale of one of the best known online business brands follows a fallow period for digital publishers, whose valuations have slid in recent years.
Changes to Facebook’s algorithm have hit traffic referrals, while revenues have been pummelled by the rise of Google and Facebook as an effective duopoly in online advertising. Mashable was last year sold for $50m — a fraction of its once lofty valuation — while operators such as Fusion Media Group and Slate have also struggled.