Vox Media buys tech news operation Re/code

Re/code's parent company, Revere Digital, said in a release that being acquired by Vox would provide access to resources and an online publishing platform that will help it broaden its reach.

"Our work will now be amplified and enhanced by Vox Media's deep and broad skill set," Re/code founders Kara Swisher and Walt Mossberg said in a post online at recode.net.

"We will also eventually migrate to Vox Media's beautiful, powerful and flexible proprietary publishing platform, which will give us new ways to present our stories to you."

Re/code will also collaborate with Vox technology news website The Verge, which had been a competitor prior to the takeover.

"While the two sites occasionally overlap, we have focused on the business of tech, while The Verge has focused on covering tech from a lifestyle perspective," Swisher and Mossberg said.

Re/code's technology and business conference division will continue to grow, according to Washington, DC-based Vox.

A prestigious Code Conference hosted by Mossberg and Swisher kicked off late Tuesday at an exclusive resort in Rancho Palos Verdes, California. Mossberg and Swisher launched Re/code at the start of 2014, after the longtime journalists left the Wall Street Journal.

Financial terms of the take-over were not disclosed, but online reports indicated it was an all-stock deal valued at less than $50m.

Source: AFP