Vox Media and New York Media were given the green light to merge, its respective executives told staff in a memo on Wednesday.
Vox Media chairman and CEO Jim Bankoff will remain in his role while Pam Wasserstein, formerly CEO of New York Media, is now president of Vox Media and joins Vox Media’s board of directors.
“Our goal is to be the best modern media company—to publish conversation-starting journalism, to create the most relevant and entertaining programming, to serve audiences across all platforms, to innovate best-in-class publishing and advertising technology, and to foster a work environment where the brightest minds can collaborate and thrive,” Wasserstein and Bankoff said in a joint statement.
The merged media organization spans the massive portfolio of Vox Media properties—SB Nation, The Verge, Polygon, Eater, Curbed, Recode and Vox—and New York Media’s New York Magazine, The Cut, Grub Street, The Intelligencer, The Strategist and Vulture.
Execs have said the brands will continue to function independently of one another, with New York Media brands led by editor-in-chief David Haskell and Vox Media brands led by publisher Melissa Bell.
Media buyers have said they were intrigued by a merged Vox Media specifically to see what kind of technology would be developed under the partnership.
In the memo, Wasserstein and Bankoff laid out some imminent changes for staff, announcing that all eligible employees could participate in Vox Media’s 401K plan beginning in January and that the print edition of New York magazine would be delivered to Vox Media offices. Meanwhile, New York Media’s offices at 75 Varick St. are getting snacks.
In addition, Vox Media released a new logo to coincide with the merger announcement “to anchor the expressive logos of our diverse editorial properties and lines of business,” Wasserstein and Bankoff said in the memo.
“Our businesses are incredibly complementary, and there is very little overlap,” they said. “While others in the industry retrench, we’re very well-positioned for continued growth and smart investments in our future.”