The merger of Vox Media and Group Nine is expected to end in early 2022. The companies will have nearly 800 employees and will create the fifth largest media company in the country. The merged entity will receive more than six billion video views a month and 350 million social followers. In addition, both companies expect more beloved real estate in their portfolios. The notice is expected to benefit both companies.
Vox Media and Group Nine have been negotiating the deal since early 2017, but they were previously unsure whether the deal would be closed. Both companies have been looking for a buyer and the deal is a big step for both. The merger will create the largest media company in the United States and help the two companies reach audiences on all platforms. The merged entity publishes content on premium streaming services, podcasts, YouTube, and TikTok. Although the merger will benefit both parties, the transaction is unlikely to affect the results of either company as the merger is not yet complete.
The transaction will create a huge digital media company and further strengthen Vox Media’s presence on the world’s most popular platforms. The combined company will be able to reach audiences across all platforms, including podcasts, premium streaming services, YouTube, TikTok and Roku. It is expected to close in early 2022 and the financial terms were not disclosed. Although the deal is not part of the Group Nine SPAC, companies expect to earn $ 700 million in revenue by 2022.
The transaction will create a large digital media company and further strengthen Vox Media’s ability to reach a diverse audience across multiple platforms. The company focuses on premium streaming services, podcasts and other digital platforms. Both companies will remain independent, with separate owners. It is not clear whether the transaction will be concluded before 2022. The transaction is expected to close in early 2022 and no financial data has been disclosed.
The transaction will create a giant media company. Group Nine is a roll game that started in 2011 and was later bought by a number of digital media companies. The company is run by Ben Lerer, who co-founded Thrillist, and his father, Ken Lerer. The transaction is expected to have significant synergies. And it is possible that Group Nine and Vox Media may merge in the future.
The transaction will create a multi-platform media company and add more content. This allows Vox to reach an audience on multiple platforms and also allows for more revenue streams. The combined company has a diverse revenue model and a diverse editorial brand portfolio. Although the deal suits Vox Media well, the deal will also benefit Group Nine’s current shareholders. With a combination of two companies, companies get the best of both worlds.
The transaction will create a large digital media company with a wide audience. It helps Vox Media reach audiences on many platforms, including premium streaming services, podcasts and more. The combined company is expected to earn $ 700 million in revenue and $ 100 million in profit by 2022. The merged media company should be bigger than BuzzFeed and more profitable than the former.
The transaction will create an organization that offers advertisers complete creative solutions, including branded content, newsletters, and social media. The merged entity will also add Group Nine brands to Concert and strengthen Fortet. The transaction is expected to close in early 2019. The combined company has revenue of $ 700 million and a profit of $ 100 million. This is a good deal for two media companies.
The transaction will create a larger digital media company, which will further strengthen Vox’s position in the market. The combined company will reach audiences on multiple platforms, including YouTube, TikTok and Roku. The transaction is expected to close in early 2022 and financial data has not been disclosed. Bankoff will retain his role as CEO of Group Nine, but will also take over the board of Vox. This acquisition does not affect the latter’s activities.
Media | Vox Media and digital media giants Group Nine have agreed to merge.
Vox Media has agreed to buy Group Nine Media, which will unite two major digital media publishers as the industry consolidates further, the companies said Monday night.
Vox Media CEO Jim Bankoff said in an interview on Monday that the merged companies are “significantly larger than the shares.”
He will become the CEO and chairman of the publisher that maintains Vox Media’s name, while Group Nine founder and CEO Ben Lerer will join Vox Media’s board, the companies said.
Vox Media, founded in 2011 by Mr. Bankoff, is the publisher of Vox.com, The Verge and SB Nation, and New York magazines and related websites, which it acquired in 2019. Group Nine manages the lifestyle sites PopSugar, NowThis, Dodo, Thrillist and Seeker. Combining nearly 350 million social media watchers and six billion monthly video views, the company is expected to earn more than $ 700 million in revenue and $ 100 million in pre-tax profit next year, two people with financial data said.
Mr Lerer said his discussions with Mr Bankoff began seriously this summer. Group Nine had previously discussed mergers with Vox Media and other companies through a special purpose vehicle, SPAC, which it had set up with the intention of going public.
“I felt I got an incredible education, not just deep, but I could actually see the inside of so many companies,” Mr Lerer said, adding: “It was clear that Vox was the best. Really head and shoulders.”
The deal, signed on Monday night, is an all-share deal that is expected to end early next year. The conditions were not disclosed. The new Vox Media would have some 2,000 employees among the largest media companies in the United States, Mr Bankoff said, adding that Group Nine’s websites complement Vox Media’s, adding that the audience for the nine groups is younger.
“The group of nine is extraordinary in the social field, with so much growth,” Mr Bankoff said. “Vox Media, for example, is exceptional in podcasting and has a strong presence on our websites.” He said both companies have strong studio divisions: “I don’t think there’s a big first-class streaming service we wouldn’t deal with.”
Digital media companies have been looking for ways to pay back investors and compete with Google and Facebook, which dominate online advertising. Recent consolidations include the acquisition of BuzzFeed’s HuffPost and Complex Networks and the acquisition of lifestyle publisher Refinery29 by Vice Media. Mr Bankoff said Vox Media could not make any moves, no additional acquisitions or going public.
“Going to the stock market may make sense under market conditions and other factors, but it may not, and we will continue to investigate,” he said. The Wall Street Journal first reported talks between the two companies.
BuzzFeed, known for its social media-ready lifestyle press and hard news coverage, went public on December 6, joining a so-called blank check company. The results so far have been disappointing: the stock, which opened at $ 10.95 on the first trading day, closed at $ 6.25 on Monday.