Group Nine Media Forms SPAC to Acquire Competitors There have been twice as many SPAC IPOs in 2020 as there were in 2019Tim Baysinger | December 21, 2020 @ 4:55 PM Group Nine Media Group Nine Media has formed a special purpose acquisition company (SPAC), according to an SEC filing on Monday. The company, called Group Nine Acquisition Corp., was formed “for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination,” according to the filing. The move could position Group Nine — owner of popular sites like NowThis, Thrillist and TheDodo — to purchase competitors, though it has not yet identified any specific targets. Discovery is one of Group Nine’s largest investors.