Parent of tech sites The Verge and Recode gets investment

Vox Media, the parent of tech news sites The Verge and Recode, has received a $100 million investment from Penske Media, reports Benjamin Mullin and Katherine Rosman of The New York Times.

Mullin and Rosman report, “In addition to raising funds, Vox Media has met with other media companies to discuss potential acquisitions or sales of some of its media properties, according to two other people familiar with the matter. In recent years, the company has sought to reduce its reliance on advertising by developing new lines of revenue including digital subscriptions, and e-commerce.

“Vox Media could use the money to make acquisitions to expand its business, one of the people with knowledge of the deal said, adding that the company doesn’t plan to raise additional money.

“The Vox Media deal is the latest in a series of acquisitions and investments made by Penske Media.”

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.