#QuickTakes By

Penske Media Acquires 20% Stake In Vox Media

Scribbled Arrow

TRENDING GLOBALLY

-: FOLLOW US :-  @theinsaneapp

Penske Media Corp. has invested in Vox Media, the digital publisher of brands such as Vox.com and New York Magazine.

-: FOLLOW US :-  @theinsaneapp

PMC will become the largest single shareholder of Vox Media as a result of the investment.

-: FOLLOW US :-  @theinsaneapp

Financial terms of the investment have not been disclosed.

-: FOLLOW US :-  @theinsaneapp

PMC is reportedly investing $100 million in Vox Media, giving PMC a 20% stake in the company.

-: FOLLOW US :-  @theinsaneapp

PMC CEO and founder Jay Penske will join the board of directors at Vox Media.

-: FOLLOW US :-  @theinsaneapp

The companies will continue to operate independently.

-: FOLLOW US :-  @theinsaneapp

The investment comes less than a month after Vox Media announced 130 job layoffs.

-: FOLLOW US :-  @theinsaneapp

PMC's portfolio includes brands such as Variety, Rolling Stone, and The Hollywood Reporter, as well as cultural events.

-: FOLLOW US :-  @theinsaneapp

Vox Media merged with Group Nine Media in December 2021.

-: FOLLOW US :-  @theinsaneapp

Vox Media has acquired various media companies, including New York Media, to gain synergies of scale.

#GIVEAWAY BY INSANE

Do you know that we give away around $250 USd in cash prizes every week?

Let’s grow together!