Entertainment

Vox Media, Group Nine Media to Merge – The Hollywood Reporter

Two of the biggest players in digital media are about to merge.

Vox Media, which owns New York magazines, Vox.com, Eater, The Verge and SB Nation, and Group Nine Media, which owns Thrillist, The Dodo, NowThis and PopSugar, are in advanced talks to merge, with a deal expected soon happened, according to a memo to Vox employees from CEO Jim Bankoff.

The deal will see Bankoff run the combined company, and with Vox shareholders own about 75% of the company’s shares. Group Nine CEO Ben Lerer will join the combined company’s board of directors.

“Due to a leak, this news will soon be broken,” Bankoff wrote to employees in an email Monday, adding that the deal was “one of the most exciting and important announcements in the history of the company.” our company”.

Bankoff added that “the agreement has yet to be signed, but we anticipate it will come into force soon.”

The The Wall Street Journal first reported the deal negotiations.

The companies are active in film and TV production, with Vox producing shows for outlets like Netflix, and Group Nine securing a first-of-its-kind deal with Discovery+ (Discovery is also an investor. large of the company).

The merger, if completed, will serve as the largest merger in the digital media space. Earlier this month, BuzzFeed went public through the SPAC merger and the acquisition of Complex Networks as part of that deal.

Other digital media players held back while waiting to see how the market reacts to BuzzFeed. Vice Media, after talks on its own SPAC broke down, has decided to raise more private funds, while Bustle Digital Group CEO Bryan Goldberg has said he intends to take the company public. His company, which owns Gawker, Bustle, Mic, and Nylon, goes public at some point. in the next year.

More will come.

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