“This combination will not only create unparalleled scale and revenue diversification, it will bring together some of the most popular brands, premium content, and creative and business talent in the world. “We could not be more excited about the opportunity to join forces with Vox Media,” Ben Lerer said in a statement. The company is headed by Ben Lerer, founder of Thrillist and son of venture-capital investor Ken Lerer. Meanwhile, Group Nine was formed as a roll-up play in 2016, with backers that included Discovery, combining digital media sites Thrillist, The Dodo, NowThis and Seeker Group Nine subsequently bought comedy studio JASH and women-focused lifestyle brand PopSugar. Vox Media has made four other acquisitions this year: Cafe Studios, Preet Bharara’s podcast-centered media company Punch, a media brand covering drinks and cocktail culture Hot Pod, a publication covering the podcast industry and narrative podcast studio Criminal Productions. The company’s brands currently include Vox, New York Magazine, The Verge, The Cut, Eater, Vulture, Polygon, Curbed, Grub Street, SB Nation, Intelligencer and Recode. In 2019, Vox Media acquired New York Media, publisher of New York Magazine, in an all-stock deal designed to gain synergies of scale. “Our combined company will be the premier home for creators, storytellers, journalists, product innovators and businesspeople who want to grow their careers and have an impact through their work.” “With this acquisition, Vox Media will extend its leadership into new categories, formats and distribution platforms by welcoming more beloved properties into our portfolio,” Bankoff said in a statement. Under the terms of the deal, Group Nine founder and CEO Ben Lerer will join the board of Vox Media and “maintain a presence at the company to help drive key strategic initiatives and advise on commercial and corporate development,” according to the companies’ announcement.
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