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Group Black, a collective and accelerator for Black-owned media, announced Thursday morning that it has secured a significant media investment from the consumer goods corporation Procter & Gamble. The total commitment is reportedly a nine-figure sum, though both parties declined to provide financial specifics.
Group Black debuted last June with an initial spend of $75 million from GroupM, but the pledge from P&G is the largest single investment that the company has received, co-founder and CEO Travis Montaque confirmed.