TheStreet to sell its institutional business; CEO to resign; shares jump ~34%

|By:, SA News Editor

Thinly traded financial news and information company, TheStreet (TST +34.2%) agrees to divest its institutional B2B business units, The Deal and BoardEx to Euromoney Institutional Investor

The deal is valued at $87.3M; the businesses reported revenue of $23.8M in FY17.

The company says that it continues to explore strategic alternatives for its consumer business.

The company also announces management changes, with CEO David Callaway to resign once the transaction is completed; current CFO Eric Lundberg will serve as CEO and Margaret de Luna, current president of the consumer business, will become President and COO.

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