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Tech news website Re/code says it's been acquired by online publishing company Vox Media, just 18 months after spinning off from its former parent, the Wall Street Journal. Vox operates several news and entertainment sites, including The Verge, which also covers tech news.
Re/code's founders, Walt Mossberg and Kara Swisher, said in a statement Tuesday that the two sites will continue to operate separately, although they may occasionally collaborate. The Verge reports from a culture and lifestyle perspective, while Re/code has focused on tech companies and business news. Specifics of the all-stock deal were not announced. (NBCUniversal News Group has a minority stake in Re/code.)
Since leaving the Journal, Re/code has earned a reputation for solid reporting and exclusives. But its readership has lagged. The comScore research service says Re/code had 1.5 million unique visitors in April, compared with 12 million for the Verge and 53 million for all Vox sites combined.
"Kara, Walt and the Re/code team embody [an] exceptional digital-first approach to journalism, continuing to set the highest bar for tech business coverage," Vox CEO Jim Bankoff said in announcing the deal Tuesday.
"This combination will give us access to the new tools and talent we need and want to make Re/code stronger and better," Swisher said in a statement provided by Vox.