ReCode, the news website led by the veteran journalists Walt Mossberg and Kara Swisher, is being acquired by D.C.-based Vox Media, “a deal that reflects the turmoil among digital organizations focused on covering the tech industry”, reports the New York Times.
The Times story stated that the all-stock deal, financial terms of which were not disclosed, will give ReCode access to a wider audience, “something it has struggled to build since the site split off from The Wall Street Journal about a year and a half ago. Both plan to stay with ReCode after the merger.”
According to The Times:
The purchase of ReCode is just the latest significant move involving a digital media start-up in the past few months. In March, Gigaom, which had been one of the early sites dedicated to coverage of Silicon Valley, abruptly closed after nine years because of financial problems. (It said Tuesday that it planned to restart in August after being acquired by the start-up Knowingly Corp.) Circa, a news aggregation start-up, is trying to sell itself to a larger media organization after failing to raise more venture capital, according to two people familiar with internal matters, though recent talks with companies like Twitter have fizzled. And Pando, another technology blog, has struggled to attract a large following despite a splashy introduction announcing prominent writers.
ReCode will become part of Vox’s expanding digital empire, which includes the popular sports site SB Nation, as well as the technology site The Verge. ReCode also will gain access to Vox’s publishing platform, Chorus, which has been a key in luring marquee journalists including Ezra Klein.
Vox Media attracted 53.2 million unique visitors in the United States across its sites in April, according to comScore.