New York Magazine Acquired by Vox Media

Along with the biweekly magazine, Vox picks up five websites: The Cut, Grub Street, Intelligencer, The Strategist, and Vulture

Last Updated: September 24, 2019 @ 6:58 PM

Vox Media has acquired New York Media, the parent company of New York Magazine, it was announced Tuesday. In addition to the 50-year-old biweekly magazine, Vox also adds fashion site The Cut, food site Grub Street, politics site Intelligencer, shopping site The Strategist, and pop culture site Vulture.

The acquisition is an all-stock deal. The value of the deal, which is expected to close this fall, was not disclosed.

“Together, as Vox Media, the company will reach hundreds of millions of people and be home to the industry’s leading journalists and creators, building communities and serving audiences across websites, TV and streaming services, podcasts, live-event stages, social platforms, and print magazines.” a press release read. “The new Vox Media will also boast multiple, diverse revenue streams including the most scaled premium brand advertising solutions, affiliate commerce shopping, digital and print subscriptions, conferences and events, and a leading TV and audio studio.”

Vox Media Chairman & CEO Jim Bankoff will lead all aspects of the expanded company, which will be called Vox Media. Pam Wasserstein, currently CEO of New York Media, will take on the new role of President, Vox Media.

In a joint letter, Bankoff and Wasserstein wrote, “We have long admired (and often envied) each other’s businesses, which revealed themselves to be uniquely complementary as we quickly moved from exploratory conversations, through diligence, to an agreement. Sharing values, we found our capabilities — each excelling in different areas, with little overlap — naturally and seamlessly fitting together. New York Media is an exemplar of groundbreaking journalism, with a smart, trenchant voice, that has turned a 51-year-old print magazine into an inventive multiplatform company that punches well above its weight. Vox Media’s authority, spirit of innovation, and foundation in technology and communities, together with its visionary approach to expansion, diversification, and growth, have set it apart from other media companies that have risen in the past decade.”

The most obvious overlaps between the two companies is their two food sites: Eater and Grub Street, and between news publications New York Magazine and Vox.

Prior to the acquisition, Vox’s network also included real estate site Curbed, gaming site Polygon, technology business Recode, sports site SB Nation, tech site The Verge, and the flagship site Vox.

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