Tags: vox | media | acquires | recode

Vox Media Buys Re/Code Tech-News and Conference Company

Tuesday, 26 May 2015 07:46 PM

Digital-media firm Vox Media has acquired Re/code -- the technology-news business news organization partly owned by NBCUniversal -- which was founded by the veterans of Wall Street Journal's AllThingsD.

Specifics of the all-stock deal were not announced. Vox Media has raised $110 million from investors include Accel Partners, Comcast Ventures, Khosla Ventures, and General Atlantic. Backers of Re/code, d.b.a. Revere Digital, included NBCU and Terry Semel's Windsor Media; Semel was former CEO of Yahoo and previously co-CEO and chairman of Warner Bros.

Revere Digital has 44 full-time staffers. A Vox rep claimed there will be no layoffs in the wake of the deal.

Re/code launched in January 2014, after founding journalists Kara Swisher and Wall Mossberg had a falling out with Dow Jones & Co., owner of their previous AllThingsD venture. According to New York-based Vox, Re/code will continue to publish at Recode.net and across other platforms.

The deal introduces an overlap between Re/code's tech coverage and that of Vox's The Verge consumer-oriented tech lifestyle destination. Vox Media said the Re/code biz-oriented coverage areas will "complement" that of The Verge; in addition, Vox said it will retain Re/code's tech and business conference division.

"Kara, Walt and the Re/code team embody [an] exceptional digital-first approach to journalism, continuing to set the highest bar for tech business coverage," Vox CEO Jim Bankoff said in announcing the deal Tuesday.

"This combination will give us access to the new tools and talent we need and want to make Re/code stronger and better," Swisher said in a statement provided by Vox.

In a "note to readers" on Re/code, Swisher and Mossberg sought to reassure readers that nothing would change vis-a-vis its coverage of the industry. "We plan... to collaborate where appropriate with Vox Media's current and very successful tech news site, The Verge," they wrote.

Vox Media's seven media brands collectively reached about 53 million unique users last month, according to research firm comScore. Those include: Vox.com (general news); The Verge (tech and culture); SB Nation (sports); Polygon (gaming); Eater (dining and nightlife); Racked (fashion, shopping and beauty); and Curbed (design, architecture and real estate).

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Digital-media firm Vox Media has acquired Re/code -- the technology-news business news organization partly owned by NBCUniversal -- which was founded by the veterans of Wall Street Journal's AllThingsD. Specifics of the all-stock deal were not announced. Vox Media has...
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2015-46-26
Tuesday, 26 May 2015 07:46 PM
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