Jim bankoff vox media8/3/2023 They want adjacency and context that matters. They want breadth and scale that matters. We, we operate at scale for our advertisers, increasingly marketers are coming to us and they want one stop shopping. JON FORTT: Jim, for folks who aren't paying attention to digital media in the business of digital media every day, give a sense of the state of play between third party programmatic and say what you've got internally with Concert and why it's important for you to sort of own brands, have an audience that isn't coming to you necessarily through somebody else but that is loyal to those brands and the content.īANKOFF: For sure. And now we're going to get to go out and I think be the acquirer of choice and we're just set up to be able to take advantage of a marketplace where being small has been difficult and we are far advanced now from sort of startup life and into being really one of the leading modern media companies so incredibly, incredibly excited. I think that this space has, has never had a company that's going to have the sorts of choices that we have in front of us with, you know, I think Jim gives a pretty good pitch as you just heard for all the different things and strengths that we have. You know, you have these brands that consumers really love but when you're competing for ad dollars with both the media giants and the social media platforms, how important is scale and what will that do for your properties?īEN LERER: Well, I think scale is a, is a path to optionality and that's really what we're excited about here. Ben, I'm curious for your perspective on sort of the pressure to scale. When you put the two together, it's a company that is not only strong financially, but is strong in its work, strong in its culture and we're excited to plow forward.īOORSTIN: Yeah. We program things in different ways but between the two of us, we have the best portfolio in media, touching every conceivable content category, doing it at scale, doing it across every conceivable modern distribution platform from Roku to TikTok to podcasts to websites to the biggest streaming services. We want to treat our employees and our teams well and we want to be ambitious and be successful. Both of these companies have, we have a lot in common even though we're different. And then we got to talking and we realized that the time was right now. It's a, it's a small group of media entrepreneurs that have emerged in the last decade or so and we have helped each other out in a support group. Ben and I have known each other for a while. We couldn't be more excited to announce this today. JIM BANKOFF: Well, first of all, thank you. Why did it feel like now's the time when it was necessary to do this kind of a deal? Also, a quick note that NBCUniversal is an investor in Vox Media. Joining us now to discuss the deal is Vox Media Chair and CEO Jim Bankoff and Group Nine Founder and CEO Ben Lerer. The deal is on pace to close in early 2022, pending regulatory approval. Under the all stock deal, Vox will hold 75% ownership of the company with the remaining 25% going to Group Nine. JULIA BOORSTIN: Vox Media is set to merge with Group Nine, parent company of brands such as NowThis, PopSugar and Thrillist. Personal Loans for 670 Credit Score or Lowerįollowing is the unofficial transcript of a CNBC exclusive interview with Vox Media Chair & CEO Jim Bankoff and Group Nine Media Founder & CEO Ben Lerer on CNBC's "TechCheck" (M-F, 11AM-12PM ET) airing today, Tuesday, December 14 th. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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