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PMC Acquires Vox Media Brands, Creating Digital Publishing Giant
Variety • • business
Key Points:
- Penske Media Corp. (PMC) has acquired Vox Media's digital brands, including Eater, The Verge, SB Nation, Popsugar, The Dodo, Punch, and Thrillist, making PMC the world’s largest digital publisher.
- PMC has created a subsidiary, PMX, to manage its publishing portfolio, with Ryan Pauley, former president of Vox Media, appointed as president of PMX Global.
- The acquisition expands PMC’s reach across entertainment, sports, technology, fashion, beauty, food, and art, with PMX brands engaging hundreds of millions of consumers monthly and producing over 300 live events annually.
- PMC already held the largest stake in Vox Media prior to the deal, which also includes Vox’s premium ad marketplace Concert and data platform Forte, enhancing PMC’s advertising capabilities.
- Tom Finn and Ken Delalcazar have been promoted to chief operating officer and chief financial officer of PMX, respectively, as part of the integration, with LionTree and Clifford Chance serving as financial and legal advisers.
