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Private Equity

Media Takeover Plan Gloo Comes Unstuck

by posted 10months ago 57 views
Gloo Networks, a listed takeover vehicle that aimed to buy up and turn around struggling print media brands, has given up after failing to seal a deal in almost three years. The company, backed by Marwyn, the private equity fund that made a strong return on Peppa Pig maker Entertainment One, said it would hand back the remainder of the money it raised and enter liquidation. Gloo, led by former magazine executive Rebecca Miskin, attracted investment from institutions including Standard Life and Invesco.

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