Penske Media Corporation (PMC) — the parent company of Rolling Stone and other prominent publications including Billboard, Variety, and The Hollywood Reporter — has officially completed its acquisition of Vox Media. The deal brings a diverse array of digital brands, including Eater, The Verge, and Vox Studios, under the PMC umbrella.
A New Era for Digital Publishing
Prior to this acquisition, PMC already held a significant stake as the largest shareholder of Vox Media. With the finalization of the deal, the company has launched a new subsidiary, PMX. This strategic move establishes Penske Media Corporation as the preeminent publisher in the digital media landscape, managing a portfolio of 25 major titles.
As part of the transition, Ryan Pauley, the president of Vox Media, will step into the role of president of PMX. He will report directly to Jay Penske, Chairman and CEO of Penske Media Corporation, and Craig Perreault, the company’s president.
Strategic Growth and Future Vision
“I am very proud to welcome this tremendous team and leading brands to Penske Media,” Jay Penske said in a statement. “We have long admired these unique brands and companies, and I’m thrilled to welcome Ryan Pauley to PMC. Ryan is a top executive who has demonstrated a clear ability to build leading technology and evolve media businesses, making him exceptionally well-positioned to lead PMX’s next chapter of growth.”
The newly formed PMX portfolio spans a wide spectrum of interests, including entertainment, music, fashion, beauty, sports, food, art, luxury, and technology. The integration is expected to leverage the combined strengths of these brands to enhance content offerings and expand live event production.
Craig Perreault emphasized the potential for future development, noting, “These distinct digital brands bring highly engaged audiences with them, complement our existing portfolio, strengthen our content offering, and expand the possibilities for the hundreds of live events PMX will produce each year. We believe we are uniquely positioned for the future as the largest publisher in digital media.”
Reflecting on his new role, Ryan Pauley expressed his commitment to the stewardship of these iconic brands. “I’m honored to step into this role and help lead what I believe is media’s strongest portfolio of brands, ones that have not only shaped history but continue to shape culture every day,” Pauley added. “Our opportunity now is to steward and grow these brands with a continued focus on brand leadership, editorial strength, audience connection, community, and live events.”