Vox Media Acquires Re/code; Mossberg And Swisher To Stick OnMay 27, 2015 2015-05-27 7:57
Vox Media Acquires Re/code; Mossberg And Swisher To Stick On
Vox Media has acquired Re/code, a technology news publication led by veteran journalists Walt Mossberg and Kara Swisher.
The financial details of the deal, which reportedly is an all-stock affair, have not been disclosed.
Re/code is a spin off from The Wall Street Journal’s erstwhile tech news vertical – AllThingsD, founded by Mossberg, Swisher and a number of their colleagues.
All 44 of the full-time employees at Re/code plan to stick on post acquisition, including the two founders.
According to NYT, the deal will help Re/code gain a wider audience, something it has struggled to do since it was launched a year and a half ago.
Moreover, the deal shows the turmoil in the digital publishing industry, especially those covering the tech space. In March, Gigaom, which was one of the early sites to cover silicon valley tech shut its doors due to financial problems.
It’s a similar story with Circa, a new aggregation startup, which has struggled to find a buyer after being unable to raise more capital, while Pando, a tech blog that made a big splash upon entry is apparently struggling to gain traction among readers.