Salem Radio Network News Wednesday, May 18, 2022

Business

Peloton seeks buyers for minority stake – WSJ

(Reuters) – Fitness equipment maker Peloton Interactive Inc is exploring the sale of a sizable minority stake in the company, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The New York-based company is seeking potential investors including industry players and private-equity firms that could buy a stake of around 15% to 20%, the report said.

Talks are at an early stage and there are no guarantees the company will find a taker or agree to a deal, according to the report.

Peloton did not immediately respond to a Reuters request for comment.

The company became an investor darling during the pandemic but has struggled in recent months as people step out and return to gyms after COVID-19 curbs were eased.

(Reporting by Ruhi Soni in Bengaluru; Editing by Aditya Soni)

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