• by Ray Schultz , April 21, 2024

Sundial Media Group (SMG), owner of Essence magazine, has acquired Refinery29, a digital media and entertainment platform with a multigenerational focus on women, the company announced.   

The terms were not disclosed. 

The Wall Street Journal reported in February that Essence was in talks to buy Refinery29 from Vice.  

“Refinery29 is an incredible brand with a phenomenal team that will play an important role in reimagining the ways that media serves the need for connection, culture and commerce in these distinct, but complementary communities of the New General Market,” says Richelieu Dennis, executive chair of SMG, according to the company's announcement. 

Cory Haik, formerly the chief operating officer of the Vice news and entertainment divisions, has been named CEO. In addition, the company says Refinery29 will operate as a standalone business within SMG.

“We are thrilled to join the Sundial Media Group suite of brands, deepen our meaningful connection with audiences, and strengthen our collective goal: to be an inclusive platform for all women,” Haik says. 

He adds, “From our flagship Refinery property to Somos and Unbothered, this is a dynamic, IP-lead media company and I look forward to leading this impressive business to continued growth.”

Axios reports that a Vice spokesperson issued this statement: "This is the end of a chapter for Vice. We have shifted to a studio model — producing and providing best-in-class content to distributors around the world.”

The 19 year-old Refinery29 includes an agency, publishing strategy group, talent network, e-commerce platform, and events business. 

Refinery92 reaches over 90 million people globally, SMG claims.