Penske Media Buys 7 Remaining Vox Sites, Ending Vox Media’s 15-Year Run
Updated
Updated · The New York Times · Jun 18
Penske Media Buys 7 Remaining Vox Sites, Ending Vox Media’s 15-Year Run
3 articles · Updated · The New York Times · Jun 18
Summary
Seven Vox Media brands — including The Verge, Eater and SB Nation — will move into Penske’s new PMX division, with Vox president Ryan Pauley set to run it from New York.
The sale covers the assets left behind after James Murdoch spent more than $300 million in May on New York magazine, Vox.com and Vox Media’s podcast network.
Terms were not disclosed, but Penske had already invested $100 million in Vox Media and was its largest shareholder before buying the remaining sites.
Founded in 2011, Vox Media now ceases to exist as an independent company, underscoring how digital publishers have struggled against Google, Amazon and Meta for advertising.