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Vox Media Buying Curbed.com Network of Sites (NYT)
Vox Media, a company with three strong digital brands, including the technology site The Verge, is adding to its portfolio. The company plans to announce on Monday that it is buying Curbed.com L.L.C., which runs three Web publications that deliver in-depth neighborhood coverage, with attitude, of real estate, dining and retailing. Fortune Fortune has learned that ambitious digital media startup Vox Media will acquire Curbed Network, a saucy trio of urban lifestyle and entertainment blogs, for a mix of cash and stock valued between $20-30 million. Though Curbed has just 5 million monthly unique visitors, the deal will help Vox Media grow its business in new categories, including home, food and style. Business Insider When asked why he’s interested in a local play like Curbed, which is published in 32 cities, Vox Media CEO Jim Bankoff replied, “It’s not a local play. These are huge mainstream consumer categories: Food/dining, home/real estate, style/retail are among the most popular cable networks and TV shows, magazines… yet who really owns the categories from a digital media perspective, especially among rich young adults online?”