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Vox Media to merge with New York Media

Media company Vox Media Inc. agreed to merge with publisher New York Media LLC.

The merger will combine New York magazine and five other digital brands with content sites such as Vox, The Verge and Recode under a single company, which will retain the name Vox Media.

The deal is also expected to give a boost to Vox Media's publisher-led marketplace Concert, publishing platform Chorus, brand studio Vox Creative and entertainment unit Vox Media Studios. Chorus will integrate commerce and subscription capabilities from New York Media's Clay platform into its software.

The transaction, financial terms of which were not disclosed, is expected to close later this fall, subject to customary closing conditions.

Vox Media Chairman and CEO Jim Bankoff will lead the combined entity. New York Media CEO Pam Wasserstein will become president at Vox Media, joining the company's executive team. Wasserstein will also sit on Vox Media's board.

The two companies will keep their editorial networks separate, led by New York Editor-in-Chief David Haskell and Vox Media Publisher Melissa Bell, respectively. The company will have offices in New York City, Washington, D.C., Los Angeles, San Francisco, Chicago, Detroit and London.

Vox Media in April acquired film and television producer Epic. New York Media, meanwhile, was reportedly exploring a potential sale as early as August 2018.

LionTree Advisors is acting as financial adviser to New York Media, and Wachtell Lipton Rosen & Katz is acting as its legal counsel. Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP, is acting as legal counsel to Vox Media.