Popular Science Owner Recurrent Ventures Raises $300 Million

From a Wall Street Journal story by Alexandra Bruell headlined “Popular Science Owner Recurrent Ventures Raises $300 Million on Blackstone-Led Round”:

The owner of publications such as Popular Science and Outdoor Life said it has raised $300 million in a round of funding led by private-equity firm Blackstone Inc., marking one of the biggest investments in online publishing in recent years.

Recurrent Ventures, whose 24 publishing brands also include home-design specialist Domino and culinary publisher Saveur, said it plans on using the funding to buy additional media properties. Having more scale will help Recurrent’s pitch to advertisers, and could appeal to investors as the company explores an initial public offering of stock or a possible sale to a larger media company, said Chief Executive Lance Johnson.