9/10/2023 0 Comments Vox media group![]() Earlier this month, BuzzFeed went public through a SPAC merger, and acquired Complex Networks as part of that deal. The merger, if consummated, would serve as the biggest piece of consolidation yet in the digital media space. The companies are active in TV and film production, with Vox producing shows for outlets like Netflix, and Group Nine securing a first-look deal with Discovery+ (Discovery is also a major investor in the company). The Wall Street Journal first reported the deal talks. “None of our existing editorial offerings or services will change as a result of this combination and we will be thoughtful about how we make decisions and treat people.” “A team from both companies will begin developing a thoughtful plan to integrate functions where it makes sense to do so,” he added. Together we will be an even stronger, more financially sustainable company that can invest more in our products and our people.” In a memo to staff earlier in the day after sale talks leaked, Bankoff wrote that “the business rationale behind this merger is to grow revenue, increase scale, and combine these incredibly powerful and complementary portfolios. This is the beginning of our most exciting chapter.” He is not only kind and fair, but fearless and focused. There is no one I would trust more to lead this company and the team I love than Jim. ![]() This combination will not only create unparalleled scale and revenue diversification, it will bring together some of the most popular brands, premium content, and creative and business talent in the world. Group Nine chief Lerer added: “We could not be more excited about the opportunity to join forces with Vox Media. In a show of scale, the combined companies touted that they have a total of 350 million social media followers across platforms, per analytics firm Comscore. ![]() Tabloids National Enquirer, Globe, National Examiner to Be Sold to Joint Venture ![]()
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