Red Ventures to launch $400 million incremental term loan on Thursday

By Sara Rosenberg

New York, Sept. 23 – Red Ventures LLC is scheduled to hold a lender call on Thursday to launch a $400 million incremental senior secured first-lien term loan (B1), according to a market source.

BofA Securities Inc. is the left lead bank on the deal.

Proceeds will be used to help fund the acquisition of CNET Media Group, a digital media company, from ViacomCBS for $500 million.

Closing is expected in the fourth quarter, subject to regulatory approvals and customary conditions.

Red Ventures is a Fort Mill, S.C.-based portfolio of digital brands.

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