INSUBCONTINENT EXCLUSIVE:
Vox Media announced yesterday that it’s acquiring New York Media, making it the new owner New York Magazine, as well as digital offshoots
like The Cut and Vulture.The companies said Vox Media’s chairman and CEO Jim Bankoff will continue to lead the combined organization,
while New York Media CEO Pam Wasserstein will become president and join the Vox board of directors.Along with the titular website, Vox also
owns SB Nation, Recode, The Verge and other online properties
It’s also launched shows on Netflix and PBS, and has a multi-year deal with Hulu
This, however, marks its first move into traditional magazine publishing.New York Magazine, meanwhile, started out as a supplement to the
New York Herald Tribune before becoming a standalone magazine in 1968
It was acquired by Wasserstein’s father Bruce in 2004.“I have long admired what Pam and the New York Media team have built, especially
their ability to shape conversations with some of the most relevant and ambitious work in digital, print, and events,” Bankoff said in a
“This combination puts Vox Media in an unparalleled position to lead the media industry forward by focusing on the highest-quality
offerings, most robust business models, and strongest company culture.”The New York Times reports that this was an all-stock transaction
Bankoff and Wasserstein told The Times that even after the acquisition, they expect Vox Media to remain profitable.The deal is expected to
