On Thursday (June 18), Penske Media Corporation (PMC) announced the acquisition of Vox Media and its brands Studios, Eater, The Verge, SB Nation, POPSUGAR, The Dodo, Punch, Thrillist and Creative, as well as Concert, Vox Media’s premium ad marketplace, and Forte, Vox Media’s first party data platform. Prior to the announcement of the acquisition, PMC was Vox’s largest shareholder.

Penske Media is also announcing the creation of a new subsidiary, PMX, which will combine PMC’s existing publishing portfolio – Billboard, Variety, Rolling Stone, WWD, The Hollywood Reporter, Deadline, Robb Report, Artforum, Sportico, SHE Media, StyleCaster, ARTnews, FN, IndieWire, VIBE, Billboard Music Charts, BEAUTYINC and more – with the newly acquired brands Studios, Eater, The Verge, SB Nation, POPSUGAR, The Dodo, Punch, Thrillist and Creative. The deal solidifies PMC’s position as the largest publisher in digital media, reaching hundreds of millions of people every month and producing more than 300 live events each year.

Ryan Pauley will join the company as President of PMX, overseeing the newly combined portfolio of brands. Pauley, who was most recently President of Vox Media, will report to Chairman & CEO of Penske Media Corporation, Jay Penske, and PMC’s President, Craig Perreault. Tom Finn has been promoted to Chief Operating Officer of PMX, and Ken Delalcazar will expand his scope as Chief Financial Officer of PMX.

“I am very proud to welcome this tremendous team and leading brands to Penske Media,” said Penske. “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.”

“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,” said Perreault. “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,” said Pauley. “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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