ADADDespite multimillion-dollar investments from Wall Street firms and traditional media companies, many of the top names in digital media have struggled to realize the profits once imagined from the epochal transition from traditional print and broadcast media to the online kind. Vox Media kicked off the merger wave in September 2019 when it announced plans to acquire New York Media, publisher of New York magazine. Vice Media, the millennial-focused digital media company, announced plans a month later to buy Refinery29, which targets young women. That same month, Group Nine Media, which itself is a conglomeration of once-independent digital media brands, bought the entertainment site PopSugar. It’s a talented team of 100s of people who contribute each day to its success.”“I’m extraordinarily grateful to Ezra and Lauren for helping to build the Vox property of Vox Media into the powerhouse that it is today.

Source: Washington Post November 20, 2020 20:48 UTC