Penske Media acquires Vox in blockbuster deal to form PMX subsidiary

Penske Media Corporation (PMC) has acquired Vox Media in a major move for the global media company. The deal creates a new subsidiary, PMX, which will combine PMC’s existing portfolio with Vox’s well-known brands. The acquisition significantly expands PMC’s reach to hundreds of millions of people each month and hundreds of live events annually. PMC, founded in 2003 and headquartered in New York and Los Angeles, already owns a strong portfolio of over 25 titles. These include Variety, Rolling Stone, WWD, ARTNews, SHE Media, Eater, The Verge, SB Nation, POPSUGAR, The Dodo, Punch, and Thrillist. With the addition of Vox Media’s brands, the new PMX division will manage an even broader range of digital media properties.

Ryan Pauley, formerly president of Vox Media, will lead PMX as its chief executive. He will report directly to Jay Penske, chairman and CEO of PMC, and Craig Perreault, president of PMC. Pauley expressed pride in taking on this role and confidence in the strength of the combined portfolio.

Tom Finn, PMC’s executive vice president of strategy and operations, will serve as PMX’s COO. Ken DelAlcazar, PMC’s executive vice president of finance, will take on the role of CFO. Jay Penske welcomed Pauley to the team and praised the quality of the newly acquired brands. The formation of PMX marks a major expansion for PMC. The new subsidiary will oversee a vast collection of media brands, increasing the company’s influence across digital publishing and live events. The leadership team is now in place to guide the division forward.