Penske Media Corp. has acquired the remaining digital brands of Vox Media — including Eater, The Verge, SB Nation, Popsugar, The Dodo, Punch, Thrillist, Vox Studios and Vox Creative.
“I am very proud to welcome this tremendous team and leading brands to Penske Media,” PMC chairman/CEO Jay Penske said in a Thursday statement. “We have long admired these unique brands and companies, and I’m thrilled to welcome Ryan Pauley to PMC. Ryan is a top executive who has demonstrated a clear ability to build leading technology and evolve media businesses, making him exceptionally well-positioned to lead PMX’s next chapter of growth.”
Vox Media president Ryan Pauley will now join PMC as president of PMX Global, a new publishing subsidiary. He will report to Penske and PMC president Craig Perreault out of New York.
“These distinct digital brands bring highly engaged audiences with them, complement our existing portfolio, strengthen our content offering and expand the possibilities for the hundreds of live events PMX will produce each year,” Perreault shared. “We believe we are uniquely positioned for the future as the largest publisher in digital media and thrilled to welcome Ryan and his talented team.”
“Across music, entertainment, food, sports, fashion, beauty, technology and art, this portfolio influences and creates culture with best-in-class brands, extraordinary authority and deeply engaged audiences and communities,” Pauley added. “Our opportunity now is to steward and grow these brands with a continued focus on brand leadership, editorial strength, audience connection, community and live events. I’m grateful to Jay Penske for his leadership and vision. He has continued to deeply invest in journalism, live events and experiences, and believing in the power of content and the enduring value of iconic brands.”
The news comes one month after James Murdoch bought half of Vox’s portfolio for over $300 million, including New York Magazine, the Vox podcast network and Vox.com.
Vox Media founder Jim Bankoff will remain with Murdoch’s venture firm. Financial details of Penske’s deal were not made public.
