![]() ![]() In addition, PMC owns cultural events including SXSW, LA3C, Life is Beautiful, Latin Music Week and ATX Television Festival. In addition to Variety, PMC brands include Rolling Stone, The Hollywood Reporter, Billboard, Dick Clark Productions, WWD, SHE Media, Robb Report, Deadline, Sportico, BGR, ARTnews, Fairchild Media, Vibe, IndieWire, Dirt, Artforum, Gold Derby, Spy.com and Luminate. Morgan Lewis served as PMC’s legal adviser, in addition to Panarae Group, which acted as a corporate adviser. Tempe voters resoundingly rejected a public referendum on Tuesday, which would have diverted. LionTree acted as financial adviser to Vox Media, while White & Case LLP acted as its outside legal adviser. The Arizona Coyotes appear destined to be a relic of the past. ![]() In addition, this investment by Penske Media will allow Vox Media to continue scaling its existing brands and operations, while providing resources for future acquisitions, and is another step forward in the ongoing ascent of Vox Media.” Our two companies share a similar history of organic and acquisitive growth over time, and it made sense to invest for the future.”īankoff said in a statement, “We couldn’t ask for a better partner than Jay and Penske Media to invest in our company’s future success, and help us build on and accelerate the leading creative and business strength across our organization. The Penske Media and Vox Media alliance will further cement both companies as leaders in modern media and take advantage of new opportunities at scale. “We deeply respect the track record of both Jim Bankoff and the senior leadership team at Vox, and the company’s remarkable growth over the last decade. ![]() “I have long admired Vox Media’s world-class editorial teams and brands,” Penske said in a statement. And Comcast’s other rival Viacom has also long been in the news business through its CBS subsidiary, which owns a stable of news and tech sites as well as Simon & Schuster, a book publisher.News of PMC’s deal with Vox Media comes less than a month after Vox Media said it was laying off 7% of its employees, eliminating about 130 jobs. This is actually Comcast’s second investment in Vox Media, which counts Comcast’s venture capital arm as one of its investors. Vox Media also has investments from General Atlantic, Accel Partners, and Khosla Ventures.Ĭomcast’s rival telecom Verizon has also gotten into the news business with a recent purchase of AOL, which owns the TechCrunch, Engadget, The Huffington Post, and others. The Buzzfeed deal isn’t going to be announced until later this week, but the Vox Media acquisition was officially announced today. (NBCU owner Comcast had previously invested in Vox Media, via its investment arm Comcast Ventures.)īuzzFeed, meanwhile, is expected to be worth $1.5 billion after its NBCU investment, which multiple sources say is also $200 million. Which is another way of saying Vox Media is now worth more than $1 billion, after raising around $300 million altogether. The headline for now: The media giant is investing $200 million in Vox Media, at a pre-money valuation of $850 million, according to several sources. ISIS on Twitter: A Comparative Study of White Nationalist and ISIS Online Social Media Networks. NBCU and Vox Media are announcing their deal today. The Definitive Net Worth of Donald Trump's Cabinet. Re/Code reports that Comcast-owned NBC Universal has sunk $200 million into Vox Media and Buzzfeed: Those two-week-old rumors that Comcast was interested in buying into online media companies came true today. Comcast Makes $200 Million Investments in Vox Media, BuzzFeed ![]()
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