Two years after Washington D.C.-based Middle Eastern news portal Al-Monitor was launched in 2012, the site won the International Press Institute’s prestigious Free Media Pioneer Award. Now comes a bold strategic step.
Crest Media, Al-Monitor’s parent, together with RealClearPolitics original investors, has bought back from Forbes Media a majority equity stake held in the U.S. politics website since 2007. The purchase price is not being disclosed. From this morning’s announcement:
“We’re thrilled to have Crest Media as a partner” said RealClearPolitics co-founder Tom Bevan. “They share our vision of building a powerhouse brand for online news, analysis and information.”
Added fellow co-founder John McIntyre: “RealClearPolitics and Al-Monitor share a parallel dedication to distilling the most powerful, complete and accurate information on topics of national and global significance. Leveraging our mutual strengths, we’ll be able to do some new and very exciting things.”
Al-Monitor, RealClearPolitics and RealClear’s various sister sites will cross-promote content and collaborate in other ways. For example, RealClear articles will be translated into Hebrew, Arabic, Turkish and Persian for consumption by Al-Monitor audiences. Al-Monitor, based in Washington D.C., also plans to leverage the polling aggregation tools that RealClearPolitics has developed.
Along with Bevan and McIntyre, the other current co-owner of Chicago-based RealClearPolitics is Anand Ramanujan. Jamal Daniel, the Syrian-born CEO and president of Crest Media, founded Al-Monitor in February 2012.