The Daily Mail has completed the purchase of Elite Daily, a publication declaring to be the “Voice of Generation Y”.
DMG picked up the publication for an undisclosed sum granting the group access to its youthful readership, 70 per cent of whom are aged between 18 and 34.
Both editorial teams will remain separate in order for both brands to keep their unique voices although there will be content collaborations between the pair.
Martin Clarke, publisher and editor in chief of DailyMail.com, said: “We are delighted to announce this deal. Elite Daily has a unique and engaging voice on a diverse range of topics and we expect them to be the perfect complement to DailyMail.com.”
David Arabov, co-founder of Elite Daily added in a blog post: “[We] founded Elite Daily… with the ambition of creating a publication that would disrupt traditional media and truly speak to the Millennial generation.
“Browsing existing publications at the time, we found ourselves unable to find a platform that was truly an all-encompassing media company for Millennials… some were too old guard, and others too limited in the breadth of their content.”
Arabov concluded: “We could have never imagined we would grow into a 65-person team with an audience of over 74 million readers and a community of over 3,000 contributors from across the globe… in light of this, it is our great honour to announce the next step in Elite Daily’s growth: our acquisition by Daily Mail, effective immediately.”
Elite Daily first launched in 2012 with a team of six employees.
This comes after the Daily Mail set its sights on the millennials earlier this week by joining the Snapchat 'Discover' initiative to deliver daily content directly to users of the app.