![]() Last week BuzzFeed, another digital media company, made its public debut through a SPAC, but failed to impress investors, with its stock tumbling by 11 percent on its first day of trading. Bankoff told The New York Times: “Going public may or may not make sense based on market conditions and other factors, and we’ll continue to look at that.” This is the beginning of our most exciting chapterĪccording to reports, the two parties began talking this summer when Group Nine met with a number of companies about a merger through its SPAC with the plan of going public. He is not only kind and fair, but fearless and focused. There is no one I would trust more to lead this company and the team I love than Jim. This combination will not only create unparalleled scale and revenue diversification, it will bring together some of the most popular brands, premium content, and creative and business talent in the world. Lerer added: “We could not be more excited about the opportunity to join forces with Vox Media. Penske Media Makes Strategic Investment in Vox This acquisition will build on and accelerate the leading creative and business strength that both companies already have achieved.” “Our combined company will be the premier home for creators, storytellers, journalists, product innovators and businesspeople who want to grow their careers and have an impact through their work. With this acquisition, Vox Media will extend its leadership into new categories, formats and distribution platforms by welcoming more beloved properties into our portfolio,” said Bankoff. Much like us, their team has proven to be a leader in both building cherished media brands from the ground-up as well as successfully acquiring and integrating properties. “Under Ben’s stewardship, Group Nine has navigated from a scrappy start-up to one of the biggest and most successful publishers in the industry. ![]() Jim Bankoff will be the chief executive officer and chair of Vox Media, while Group Nine founder and CEO Ben Lerer will join its board and maintain a presence at the company. with approximately 2,000 employees, is expected to close early next year and is separate from the special purpose acquisition company, or SPAC, that Group Nine set up last year. The deal, which will create one of the biggest media companies in the U.S. Vox Media, publisher of New York Magazine, is acquiring Group Nine, whose brands include Popsugar, NowThis, Thrillist and the Dodo in an all-stock deal.
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