15 votes

Vox Media acquires New York Magazine

7 comments

  1. [7]
    krg
    Link
    I didn't know Vox Media was raking in that kind of bank. Or.... New York Magazine is really bleeding cash... Anyway, boo conglomerates, and what not

    I didn't know Vox Media was raking in that kind of bank. Or.... New York Magazine is really bleeding cash...

    Anyway, boo conglomerates, and what not

    4 votes
    1. [6]
      cfabbro
      Link Parent
      Media consolidation sucks, but if the choice is between that and a historic publication going out of business, I think I would prefer the former... depending on who is buying them, of course. And...

      Media consolidation sucks, but if the choice is between that and a historic publication going out of business, I think I would prefer the former... depending on who is buying them, of course. And at least Vox seems a decent enough organization from what I know of them.

      4 votes
      1. [3]
        JXM
        Link Parent
        They’re Partially owned by Comcast, if that changes your opinion of them.

        They’re Partially owned by Comcast, if that changes your opinion of them.

        6 votes
        1. [2]
          cfabbro
          (edited )
          Link Parent
          That doesn't really tell me a whole lot unfortunately, since I am not American and the only negative thing I know about Comcast is their reputation as a somewhat shitty ISP with poor customer...

          That doesn't really tell me a whole lot unfortunately, since I am not American and the only negative thing I know about Comcast is their reputation as a somewhat shitty ISP with poor customer service. But even if I did know lots of negative things about Comcast as a media company, how I feel about them partially owning Vox, and Vox acquiring New York Magazine, would depend on what percentage of Vox they own and how much influence they actually exert over it.

          1 vote
          1. JXM
            Link Parent
            I don't know an exact number, but it is at least 14%. From Wikipedia: Comcast has a major influence on media, particularly in the United States. While a magazine going out of business isn't good,...

            I don't know an exact number, but it is at least 14%. From Wikipedia:

            In August 2015, NBCUniversal made a $200 million equity investment in Vox Media, valuing the company at more than $1 billion. Comcast, which owns NBC, additionally already owned 14% of Vox through other subsidiaries.

            Comcast has a major influence on media, particularly in the United States. While a magazine going out of business isn't good, consolidation of media isn't good either.

            1 vote
      2. NaraVara
        Link Parent
        Yeah a concerted media company owning the media company is vastly preferable to it being owned by some egotistical billionaire or hedge fund is great. But consolidation still kinda sucks.

        Yeah a concerted media company owning the media company is vastly preferable to it being owned by some egotistical billionaire or hedge fund is great. But consolidation still kinda sucks.

        4 votes
      3. krg
        Link Parent
        Ya, I'm just wary of cultural homogenization. NY Times is blocking the article for me, so I can't see if they mention how much independence New York Magazine will have after the acquisition....

        Ya, I'm just wary of cultural homogenization. NY Times is blocking the article for me, so I can't see if they mention how much independence New York Magazine will have after the acquisition.

        Anyhow, I don't read New York Magazine*, so I'm not that invested in this.

        *and I probably read more Vox Media outlets than I realize

        4 votes