Vox Media, which owns publications like New York Magazine and the tech site The Verge, is raising $100 million from Penske Media
Penske Media will acquire approximately 20% of Vox Media, making it the company’s largest shareholder.
Compared to Vox Media’s most recent funding round in 2015, when NBCUniversal invested $200 million at a valuation of approximately $1 billion
Vox Media was acquired by NBCUniversal at a time when digital publishing was booming and companies like BuzzFeed
Jim Bankoff, CEO of Vox Media, stated in a note to employees that the two businesses would continue to operate independently.