Digital media company Vox Media has agreed to acquire Revere Digital, the owner of technology business news website Re/Code, in a deal that will allow entertainment company NBCUniversal to exit Revere.
NBCUniversal will trade its stake in Revere for shares in Vox, a source familiar with the transaction told Reuters yesterday, the same day as the deal was announced by Vox. Neither company has revealed the acquisition price.
Re/Code was launched in January 2014 by Kara Swisher and Walt Mossberg, both formerly writers for digital news site AllThingsD, with NBCUniversal and media group Windsor Media both holding minority stakes.
Both Swisher and Mossberg will remain at the site after it transfers to Vox’s control, and Re/Code’s 44 full-time employees are set to retain their positions.
Re/Code will join the network of online properties run by Vox, which includes consumer technology site The Verge, sports site SB Nation and gaming news and opinions site Polygon. It will also eventually move on to Vox’s publsihing platform, Chorus.
Vox’s acquisition of Re/Code came after news emerged on Friday that the main assets of another prominent US-based technology media company, GigaOM, had been acquired by internet publisher Knowingly for an undisclosed sum.
Founded in 2006, GigaOM stopped publishing content in March this year after being unable to pay its creditors.
The company had raised approximately $23m from backers including Reed Elsevier Ventures, the corporate venturing arm of publisher and data provider Reed Elsevier, as well as True Ventures and Alloy Ventures.
Knowingly bought the domain, gigaom.com, as well as the company’s library of content, and plans to relaunch the site in August this year.