According to the company's expectations, the combined portfolio of Curbed, The Cut, Eater, Grub Street, Intelligencer, New York Magazine, Polygon, Recode, SB Nation, The Strategist, The Verge, Vox, and Vulture "will reach hundreds of millions of people in the most popular consumer categories".
Bankoff will remain as the head of Vox and lead all aspects of the expanded company.
“I have long admired what Pam and the New York Media team have built, especially their ability to shape conversations with some of the most relevant and ambitious work in digital, print, and events [...] This combination puts Vox Media in an unparalleled position to lead the media industry forward by focusing on the highest-quality offerings, most robust business models, and strongest company culture”, Bankoff said.
Wasserstein will take on the new role of president for Vox Media and oversee strategic initiatives, including commerce and consumer business.
“We have drawn inspiration from Vox Media, watching their growth trajectory and success in developing premium editorial brands and leading the industry in areas like podcasting and entertainment. As I began talking with Jim about what the future might look like together, it quickly became apparent that our companies pair incredibly well. We share core values — above all, a commitment to journalistic excellence — and each bring complementary areas of expertise to the enterprise. In this partnership, I’m looking forward to creating a new kind of media company with him and our combined teams”, Wasserstein said.
The editorial networks will remain distinct, according to the statement. The new company will have offices in New York, Washington DC, Los Angeles, San Francisco, Chicago, Detroit, and London.
The deal, reportedly subject to customary closing conditions, is expected to close later this fall. Neither company has disclosed the value of the deal, The New York Times reported.
