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Jay Penske's Media Takeover Takes its Next Step With a Major Investment in Vox Media

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Penske Media Corporation now owns about 20 percent of Vox Media, thanks to its reported $100 million investment in the company.

in Austin’s South by Southwest festival. On Monday, Penske’s spree continued with a $100 million investment in Vox Media. “As a result of the investment, Penske Media will own about 20 percent of Vox Media, making it the largest shareholder of the company,” thesaid in a reported note to employees that the two companies would “continue to operate separately” with “editorial and business independence,” while adding they would partner commercially.

“The Penske Media and Vox Media alliance will further cement both companies as leaders in modern media and take advantage of new opportunities at scale,” Penske said in a statement., Vox, The Verge, and Eater, has itself been in acquisition mode in recent years. Last year, Vox Media bought Group Nine Media. home to brands like Thrillist and NowThis.

 

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