Vox Media Inc., publisher of The Verge and SB Nation, agreed to acquire Re/code, the technology business website led by former Wall Street Journal reporters Kara Swisher and Walter Mossberg.
Terms of the deal, announced Tuesday at the opening of Re/code’s annual conference in Rancho Palos Verdes, California, weren’t disclosed. Mossberg and Swisher will continue to publish under the Re/code name and hold events, they wrote on their website.
“This is the next big step in our mission to bring you quality tech journalism, because our work will now be amplified and enhanced by Vox Media’s deep and broad skill set,” Mossberg and Swisher wrote on their website.
The deal gives Re/code, an influential site for technology news, access to Vox Media’s much larger audience in the competitive world of online media. Digital outlets such as Buzzfeed, Business Insider and Vox Media have attracted large investments to challenge traditional publishers like The New York Times for readers and advertisers.
Swisher and Mossberg introduced Re/code in January 2014 after leaving News Corp. where they had built a following at the Wall Street Journal and started the AllThingsD conference. The events attracted top media and tech executives, including the late Apple Inc. co-founder Steve Jobs.
They later added a news site at the Journal that became a major source of information on startups, media and the technology industry. They introduced Re/code with funding from Comcast Corp.’s NBCUniversal, and grew to 45 full-time employees. All of those employees will work for Vox Media, according to a person with knowledge of the situation who wasn’t authorized to speak publicly.
The transaction is for all stock, the New York Times reported earlier.
Vox Media, led by Chief Executive Officer Jim Bankoff, publishes seven news and lifestyle websites, including the news explainer site Vox.com, the technology site The Verge, the sports site SB Nation, and Polygon, a gaming site.
In an interview, Bankoff said Vox acquired Re/code to expand its influence and to learn more about hosting conferences. Tickets to Re/code’s conference this week started at $6,500 each.
Swisher and Mossberg didn’t respond to requests for comment. Bankoff said the two had the option to raise more money and stay independent but saw the advantage of Vox’s publishing technology and its marketing and sales teams.
“They realized that what was important to them was being in an environment where they can do what they do well -- running a conference business and doing journalism,” Bankoff said. “We’re going to give them the opportunity to do that.”