Vox Media Buys Re/Code By Walt Mossberg And Kara Swisher, CEO Explains Reason Behind Huge Deal

Vox Media has acquired the tech-focused news website ReCode that was led by journalists Walt Mossberg and Kara Swisher as it reflects the current standing of the news website regarding its struggle to reaching a wider audience.

ReCode, the news website geared towards a tech-focused audience, has been acquired by Vox Media and the recent deal's aim is to access a wider array of audience since the company has been having trouble achieving that from the time it was launched.

ReCode has been established by veteran journalists Walt Mossberg and Kara Swisher. It is a breakaway website from The Wall Street Journal for almost a year and a half now and a report by The New York Times emerged saying that both Mossberg and Swisher will still say with ReCode after it gets merged with Vox Media. Also, the 44 employees working for ReCode will still work for the publication after it gets merged with the bigger company.

The purchase of ReCode was announced on Tuesday but no details as to the financial terms agreed upon by the two companies were released. ReCode was first called "AllThingsD" when it was still with The Wall Street Journal and was mainly popular due to the conference business that the publication runs. Among the conference business include that of Facebook's Mark Zuckerberg and Apple's Steve Jobs.

One of the reasons why ReCode is being sold to a larger company is because other tech website giants have driven the subscribers of ReCode away from the news website. Also, ReCode only receives 1.5 million regular monthly visitors which is quite low as compared to other news websites such as TechCrunch and Buzzfeed.

The topics being covered by ReCode include the business of the tech industry, financing rounds, earning reports, and executive moves of tech giants.

Vox Media's CEO, Jim Bankoff, released a statement on Vox.com to explain the deal between them and ReCode. He shared that Vox Media is built around empowering the most talented digital voice such as The Verge, Polygon, Curbed LLC and Vox.com. Thus, they want to build ReCode as one of the top websites on the internet.

Bankoff noted that their leadership is stronger than ever and wants to expand more but did not give away any information as to when the merging will happen between Vox Media and ReCode.