Penske Media becomes largest shareholder in Vox Media


Vox Media, the digital media holding company whose titles include New York Magazine, Eater and The Verge, has raised $100 million from Penske Media Corp., according to two sources familiar with the situation.

Why it matters: The money will help Vox Media weather a brutal ad market while remaining independent, and makes Penske the company's largest outside shareholder.

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