Vox Media, which owns New York Magazine, Vox.com, Eater, The Verge and SB Nation and Group Nine have signed a deal to merge, which is expected to close in early 2022.
Financial details were not disclosed.
Under the deal, Vox Media CEO Jim Bankoff will run the merged company, with Vox shareholders owning roughly 75 percent of the firm and Group Nine CEO Ben Lerer will join the company’s board of directors.
Bankoff said:
“Under Ben’s stewardship, Group Nine has navigated from a scrappy start-up to one of the biggest and most successful publishers in the industry. Much like us, their team has proven to be a leader in both building cherished media brands from the ground-up as well as successfully acquiring and integrating properties. With this acquisition, Vox Media will extend its leadership into new categories, formats and distribution platforms by welcoming more beloved properties into our portfolio.”
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