Penske Media Corporation (PMC) — the parent company of Rolling Stone and other publications like Billboard, Variety, and The Hollywood Reporter — has acquired Vox Media, home of Eater, The Verge, Vox Studios, and more.
Prior to the acquisition, PMC was
the largest shareholder of Vox Media, whose titles also include SB Nation, PopSugar, The Dodo, and Thrillist. With Vox’s titles now joining PMC’s preexisting portfolio, Penske has formed the new subsidiary PMX, officially becoming the largest publisher in digital media with 25 titles in the aggregate.
Ryan Pauley, president of Vox Media, will now serve as president of PMX and report to Chairman & CEO of Penske Media Corporation Jay Penske and PMC’s President Craig Perreault.
“I am very proud to welcome this tremendous team and leading brands to Penske Media,” PMC founder and CEO Jay Penske said in a statement. “We have long admired these unique brands and companies, and I’m thrilled to welcome Ryan Pauley to PMC. Ryan is a top executive who has demonstrated a clear ability to build leading technology and evolve media businesses, making him exceptionally well-positioned to lead PMX’s next chapter of growth.”
PMX now includes brands spanning entertainment, music, fashion, beauty, sports, food, art, luxury, and technology.
“These distinct digital brands bring highly engaged audiences with them, complement our existing portfolio, strengthen our content offering, and expand the possibilities for the hundreds of live events PMX will produce each year,” Perreault said in a statement. “We believe we are uniquely positioned for the future as the largest publisher in digital media and thrilled to welcome Ryan and his talented team.”
“I’m honored to step into this role and help lead what I believe is media’s strongest portfolio of brands, ones that have not only shaped history but continue to shape culture every day,” Pauley added. “Across music, entertainment, food, sports, fashion, beauty, technology and art, this portfolio influences and creates culture with best-in-class brands, extraordinary authority, and deeply engaged audiences and communities. Our opportunity now is to steward and grow these brands with a continued focus on brand leadership, editorial strength, audience connection, community, and live events. I’m grateful to Jay Penske for his leadership and vision. He has continued to deeply invest in journalism, live events and experiences, and believing in the power of content and the enduring value of iconic brands.”
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