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Thrillist CEO Ben Lerer explains why Discovery just invested $100 million and made him a new media mogul

On Thursday, Discovery Communications poured $100 million into a new holding company called Group Nine Media, which ties together four media brands: Thrillist, NowThis, The Dodo, and Seeker (Discovery's digital network). The impetus for Group Nine, according to Thrillist CEO Ben Lerer, who will run it, is a macro trend in digital media toward consolidation. “Consolidation is coming to media,” he tells Business Insider, referencing big investments by NBC in Vox and BuzzFeed, as well as the pickup of Gawker’s assets by Univision, and the sale of Business Insider to Axel Springer.
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