Bloomberg Media agreed to acquire news website CityLab from The Atlantic for an undisclosed sum.

Bloomberg will also buy the CityLab event series, which has been co-hosted by Bloomberg Philanthropies in the past seven years, according to a Dec. 10 news release.

The Bloomberg LP unit will disclose details on the integration in early 2020. Prior to any developments, CityLab will retain its branding and remain as a stand-alone site under Bloomberg.

The transaction is expected to close by the end of 2019.