The Betoota Advocate’s former publisher, colourful Sydney media investor Piers Grove, is in talks to leave the satirical news site and sell his stake in the brand.

Founded in 2014, Betoota has grown from a single webpage with a self-consciously ocker take on comedic headlines into a fully fledged media business with one million Instagram followers, a podcast, clothing line and upcoming television show.

Grove stepped down as publisher of Betoota in December 2021, when he became publisher of youth news site Junkee, but retained a minority share and a directorship.

Both sides cast Grove’s decision to leave as amicable, despite rumours of a falling out. “He’s had a tough run with his health,” said Antony Stockdale, Betoota’s commercial chief. “He’s told us he wants to leave and we’re going to do that in the best way for Betoota and for him.”

Betoota would be happy if Grove had stayed, Stockdale said, while Grove confirmed that he was looking for potential purchasers so he could exit the business.

“I’ve remained a shareholder longer than I usually do because I have a love of Betoota and the team, but it’s time to move on to new projects,” Grove said via email from New York, where he is honeymooning.

“I certainly did have a stroke this time last year, but I have enjoyed a full recovery and I’ve been back at work since the new year at 100 per cent health,” Grove said. He said he was focusing on green projects, including start-up initiatives Impact Ventures, EnergyLab and Boomerang Labs, and would announce more initiatives soon.

Grove has had a tumultuous period in business. He agreed to leave Junkee in late 2022 after settling a financial dispute with his business partners in that venture. Grove’s decision to take the role with Junkee also triggered his exit from another youth media business, the Instagram-focused Daily Aus.