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Media investment company GroupM is targeting a spend of $75 million to support media collective Group Black, a new initiative aimed at supporting Black-owned media and creators by connecting them with agencies and brands. This infusion of funding is just the first allotment to help bolster this newly formed organization.
The “first-of-its-kind” initiative is designed around three pillars: members, brands and creators, along with Group Black Ventures, an accelerator that funnels capital and expertise to jumpstart emerging Black-owned media channels.
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