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TheMaven unit closes acquisition of TheStreet

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TheMaven unit closes acquisition of TheStreet

A subsidiary of TheMaven Inc. acquired all outstanding common shares of TheStreet Inc., a financial news and information provider, for $16.5 million in cash.

Jim Cramer, who co-founded TheStreet, and his team of financial experts will stay on to work with the brand, while TheMaven's new Sports Illustrated fantasy team will partner with Cramer Digital on a new subscription product to be distributed on TheStreet.

The partnership will allow Cramer to continue his subscription and content offerings, under his editorial control. TheStreet's senior management is also planning to continue with TheMaven.