Web3 and cryptocurrency news source Axios reports that Decrypt and Rug Radio, a decentralized media project that focuses on creators, will combine operations next year, maintaining their separate brands.
The combination of Rug Radio’s audio and video podcast content with Decrypt’s text-focused website content is thought to be complementary. The CEOs of Decrypt, Rug Radio, and Farokh Sarmad, along with Loxley Fernandes, the other co-CEO of Rug Radio, will continue to hold executive roles in the new holding company.
The brands will keep their personnel, identity, and branding, Ad sales revenue for each company was estimated to be around $3 million annually, and both stated that their staff would stay on after the merger, which Fernandes referred to as a “merger of equals.”
The announcement is made during a very busy period for media deals pertaining to cryptocurrencies. Foresight Ventures, a Singaporean venture capital firm, recently acquired a majority stake in The coinbrit, while Bullish, a cryptocurrency exchange headed by former NSE President Tom Farley, recently acquired cryptocurrency news outlet CoinDesk in an all-cash deal.
