Added Bankoff, co-founder, CEO and chair of Vox Media: “We couldn’t ask for a better partner than Jay and Penske Media to invest in our company’s future success, and help us build on and accelerate the leading creative and business strength across our organization.
As part of the deal, the two companies will continue to operate independently, and Penske Media will become Vox Media’s largest shareholder. Jay Penske will join the board of directors at Vox Media. LionTree acted as financial advisor to Vox Media, while White & Case LLP acted as its outside legal advisor. Morgan Lewis served as Penske Media’s legal advisor, in addition to Panarae Group, who acted as a corporate adviser.
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