Playboy Among Media Players in New Era of SPACs

WWD: Media watchers were introduced to a strange new word last year that doesn’t seem to be going away in 2021. SPACs, an acronym for the less catchy Special Purpose Acquisition Company, also known as “blank check” entities, act as a shell company that investors pour money into via an initial public offering. They then use those funds to acquire a company that will inherit its stock exchange listing minus the traditional time-consuming IPO process.