The day began with a big media merger and ended with another—though much smaller—digital media deal. Vox Media is adding tech site Re/code to its portfolio of websites that cover news, sports, fashion, food and (already) tech.
The news was announced just as Re/code's Codecon was getting underway in Rancho Palos Verdes, Calif. Vox Media CEO Jim Bankoff joined Kara Swisher and Walt Mossberg on stage at the event. Bankoff said Re/code would "extend our leadership in tech." Financial terms were not disclosed for the all-stock transaction, but Business Insider calculates the deal at less than $50 million.
Barely a toddler at 17 months old, Re/code was founded by tech denizens Swisher and Mossberg, who all but invented Silicon Valley coverage at their former home, The Wall Street Journal's AllThingsD. Mossberg and Swisher went off on their own in January, 2014, and, with investments from the NBC News Group and Windsor Media, created Revere Media, the parent of Re/code. It now boasts a staff of 44 and averages just north of 2 million monthly uniques, according to Quantcast. (At its height, AllThingsD was getting about 8 million.)
Vox's existing tech site, The Verge, draws around 12 million monthly visitors, according to comScore.
In a note to readers today, Swisher and Mossberg wrote, "We plan to collaborate where appropriate with Vox Media's current and very successful tech news site, The Verge. While the two sites occasionally overlap, we have focused on the business of tech, while The Verge has focused on covering tech from a lifestyle perspective."
Vox includes its namesake news site, Vox.com, as well as sports site SB Nation, food site Eater, video-game-focused Polygon, real estate hub Curbed and fashion spot Racked.
Vox also boasts native advertising product Chorus for Advertisers, which includes a production partnership with DigitasLBI, announced earlier this month at its upfront.