Vox Media in advanced talks to buy Thrillist owner Group Nine
Vox Media Inc. said it has acquired Group Nine Media Inc. in the latest sign of consolidation in the digital media business.
“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.
BuzzFeed News employees walk out on Thursday to push for higher wages as they continue to negotiate a contract. Group Nine CEO Ben Lerer said in a separate note to his staff that the combined company would be called Vox Media and Bankoff will be CEO. Lerer will join the board. The Wall Street Journal reported earlier Monday on the merger discussions.BuzzFeed bought HuffPostAs part of going public this month, BuzzFeed acquired youth-focused media company Complex Networks from Hearst Corp. and Verizon Communications Inc. BuzzFeed shares have fallen 36% since their public debut Dec. 6.
to compete for online ad dollars with tech giants such as Google and Facebook, and have been looking to combine with one another to offer marketers a larger audience. Group Nine has also started a SPAC that is publicly traded.
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