Vox Media's 'Remain Co.' Brands Face Uncertain Future as Penske Circles and Executives Flee

Following James Murdoch's $300 million acquisition of New York Magazine, the Vox Media Podcast Network, and Vox, the leftover portfolio — internally dubbed 'Remain Co.' — is now navigating a murky future. The group includes Eater, The Verge, SB Nation, Popsugar, and The Dodo, and will be nominally led by Ryan Pauley, former president of Vox Media. CEO Jim Bankoff, who will head the Murdoch-acquired properties, issued a reassuring statement about continuity — but insiders say the brands are almost certainly heading toward new ownership arrangements.

Penske Media Corporation, which already holds a 20% stake in Vox Media from a 2023 investment, is widely expected to acquire at least some of the remaining titles. The most natural fit is Popsugar, the women's lifestyle brand with a strong social media presence, which could slot into PMC's She Media network. The other titles — Eater, The Verge, SB Nation, and The Dodo — are considered awkward additions to PMC's Hollywood-trade-publication-heavy portfolio, making a piecemeal sale the more likely outcome. Capital One has already explored a deal for Eater, and Vox Media has been quietly shopping The Dodo for roughly a year.

The talent exodus signals how unattractive Remain Co. is as a long-term destination. Chief Revenue Officer Geoff Schiller, who had previously returned to Vox Media after a stint at Group Nine, is reportedly planning to leave on June 5. His departure underscores the stark contrast between the Murdoch deal's crown jewels — fast-growing, prestigious properties with strong subscription and podcast revenue — and the remaining brands, which are heavily dependent on open-web traffic that is eroding rapidly due to AI-driven disruption of search.

Elsewhere in digital media, Amazon has been quietly slashing affiliate commission rates by up to 50% for some publishers, the result of a directive to cut 20% of sector costs — a move driven partly by a strategic pivot toward creator affiliates and a need to fund AI investments. Combined with Google's AI Overviews decimating top-of-funnel organic search traffic, the affiliate revenue model that sustained countless publishers is under severe pressure from both ends of the funnel. Business Insider CEO Barbara Peng also announced her resignation after roughly two and a half years, with Axel Springer deputy Christian Baesler stepping in as interim CEO amid yet another round of layoffs at the struggling outlet.