Penske Media Corporation has acquired the rest of Vox Media that it did not already own, including sports-focused SB Nation, tech publication The Verge and the animal-centric website The Dodo.
The deal, announced Thursday, also includes outlets like Eater, Punch, Pop Sugar and Thrillist. Financial terms of the transaction were not disclosed.
Penske Media is already the largest owner of entertainment trade publications — Variety, the Hollywood Reporter and Deadline Hollywood — and legacy brands like Rolling Stone. The company is also the owner of Dick Clark Productions, which produces shows like the Billboard Music Awards, the American Music Awards and the Golden Globes.
The sale follows a separate deal announced in May that saw Vox Media sell New York magazine, Vox.com and its podcast business — including popular shows like “Pivot” — to Lupa Systems, the investment firm founded by James Murdoch. As part of that transaction, longtime Vox Media Chief Executive Officer Jim Bankoff agreed to join Lupa and lead its media operations.
Together, the deals effectively dismantle the company that Bankoff spent more than 15 years building into one of the most prominent digital-native media organizations.
The assets acquired by Penske Media were organized into a separate entity known internally as “RemainCo” following the Lupa transaction. That business was led by Ryan Pauley, a longtime Vox executive responsible for revenue, strategy and operations.
Under the agreement, Pauley will join Penske Media as President of PMX, a newly-formed division that will house the acquired brands. Penske executives Tom Finn and Ken Delalcazar will serve as Chief Operating Officer and Chief Financial Officer of the unit, respectively.
“I am very proud to welcome this tremendous team and leading brands to Penske Media,” Jay Penske, the company’s founder and CEO, said in a statement.
Craig Perreault, President of Penske Media, said the addition of Vox’s publishing brands would strengthen the company’s audience reach and live-events business. It wasn’t clear how long the company intended to continue financially supporting Vox’s journalism brands.
