Penske Media Corporation, Deadline’s parent company, has made a strategic investment in Vox Media and is now its largest shareholder.
Vox is the owner of media brands such as Vox, New York Magazine, The Verge, The Cut, Eater, Vulture, The Strategist, Polygon, SB Nation, Curbed and several more.
Terms of the deal were not disclosed. The companies will continue to operate independently after the transaction. “I have long admired Vox Media’s world-class editorial teams and brands,” said Jay Penske, CEO and Founder, Penske Media. “We deeply respect the track record of both Jim Bankoff and the senior leadership team at Vox, and the company’s remarkable growth over the last decade.
The Penske Media and Vox Media alliance will further cement both companies as leaders in modern media and take advantage of new opportunities at scale.
Read more on deadline.com
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