Turner and Scripps Are Investing $45 Million in Digital Publisher Refinery29

Another traditional media company has invested in an online property to help expand its digital footprint and capture the next generation of consumers. Refinery29 — the online publisher that, in its own words, is aimed at “a modern woman’s destination for how to live a stylish, well-rounded life” — has raised $45 million in funding led by Turner, the Time Warner broadcasting giant that owns TV channels like CNN and the Cartoon Network, but also online sites like Bleacher Report.

Also participating: another oldie from the media landscape, Scripps, via Scripps Networks Interactive, which co-led the company’s last round with WPP, a Series D of $50 million at a $290 million valuation.

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