Vox Media To Acquire Group Nine

Vox Media Inc. said it has acquired Group Nine Media Inc. in the latest sign of consolidation in the digital media business, reports Bloomberg.

“With this acquisition, Vox Media will extend its leadership into new categories, formats and distribution platforms by welcoming more beloved properties into our portfolio,” Vox Media Chief Executive and Chair Jim Bankoff said in a statement. “This acquisition will build on and accelerate the leading creative and business strength that both companies already have achieved.”

Financial terms were not disclosed.

The two companies will operate separately until the deal closes in early 2022, Bankoff said Monday in note to staff reviewed by Bloomberg News.

Group Nine owns websites including PopSugar, the Dodo, Thrillist and NowThis. Vox Media owns New York magazine, the Verge, SB Nation, Eater and others. The media company has about 850 employees, including more than 90 in Los Angeles.

Vox has no immediate plans to go public, Banoff said.