Vox Media and New York Media are to merge as one, forming a larger independent media company which will retain the Vox Media branding while hosting a number of vertical brands.
Subject to final stages, the merger is expected to be finalised in the autumn, creating a combined portfolio that includes both Vox and New York Magazine in addition to Curbed, The Cut, Eater, Grub Street, Intelligencer, Polygon, Recode, SB Nation, The Strategist, The Verge and Vulture.
The merger will also position the expanded media company to capitalise on advertising solutions with the firm on track for $300 million revenue next year. Furthermore, the new and improved Vox Media is hoping to explore more diverse revenue streams including scaled premium brand advertising and affiliate commerce shopping.
“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,” commented Jim Bankoff who will remain at the helm as Vox Media’s chairman and chief executive.
New York Media chief Pam Wasserstein, will assume the role of president. He added: “We have drawn inspiration from Vox Media, watching their growth trajectory and success in developing premium editorial brands and leading the industry in areas like podcasting and entertainment. As I began talking with Jim about what the future might look like together, it quickly became apparent that our companies pair incredibly well. We share core values — above all, a commitment to journalistic excellence — and each brings complementary areas of expertise to the enterprise.”
New York brands are set to be led by editor-in-chief David Haskell with Vox Media brands led by Melissa Bell, publisher of Vox Media as part of the new business.