The company declined to offer further financial specifics of the deal. Last year, Min predicted that The Ankler would surpass $10 million in revenue in 2025, split roughly into 60% sponsorships and 40% paid subscriptions.
The publisher, which started as a newsletter in 2017 before moving to Substack in 2019, now has around 100,000 total subscribers. It has since expanded beyond its foundational email product—started by veteran reporter Richard Rushfield—into a broader media portfolio that contains five newsletters and two podcasts.
The company has kept its headcount small, with around 10 full-time employees, and has raised only $1.3 million, which it has yet to tap into, according to Press Gazette. This discipline has enabled The Ankler to be profitable from its launch.
“The Ankler has grown our events business significantly in the past year and is investing in live media to continue to serve our audience outside of our newsletters and podcasts,” said Min. “Obviously, we’d like to bring new and future subscribers to The Ankler.
