Latest news with #Bankoff
Business Mayor
03-05-2025
- Business
- Business Mayor
Polygon sold to GameRant owner Valnet
Polygon, The Verge's sister site dedicated to gaming and entertainment, has been sold by Vox Media to Valnet, a company that owns brands like ScreenRant, GameRant, and Android Police. Some Polygon staffers will continue with the publication under its new owner, while others have been laid off, according to posts online and an internal message sent to Vox Media employees. Valnet owns more than 27 different brands that cover areas like entertainment, gaming, sports, and travel. A recent report from TheWrap includes one former contributor to a site under Valnet's purview describing conditions as 'almost sweatshop-level.' 'Perfectly aligned with Valnet's long-term growth strategy, Polygon will now integrate Valnet's Gaming Portfolio, which includes industry-leading publications such as Game Rant, TheGamer, Fextralife, OpenCritic, DualShockers, and HardcoreGamer,' the company said in a press release. 'This addition follows Valnet's recent acquisition of FextraLife earlier this year, further strengthening its position in the gaming media landscape. With Valnet's proven operational excellence, Polygon is poised to reach new editorial heights through focused investment and innovation.' Vox Media CEO Jim Bankoff said in a statement that 'this transaction will enable us to focus our energies and investment resources in other priority areas of growth across our portfolio of iconic digital publications and audio / video programming, while enabling Valnet to grow their leadership and authority in the gaming information category.' In his message to staff, Bankoff also cited the current 'uncertain economic outlook' and broader changes in the gaming industry as contributing reasons to the sale. 'I'm no longer with Polygon,' says former editor-in-chief Chris Plante. 'If you're hiring, please consider the many talented writers and editors now on the market. Every one of them deserves a spot on your staff. I won't be talking more about the sale because I wasn't involved.' Read More The most influential video game of all time - Bafta We've collected additional posts from some affected staffers below. Update, May 1st: Added posts from more Polygon staffers. READ SOURCE
Axios
01-05-2025
- Business
- Axios
Vox Media sells gaming site Polygon
Vox Media on Thursday announced it is selling its gaming and entertainment site Polygon to Canadian company Valnet. Why it matters: The deal is part of a broader effort by the media company to streamline its portfolio and invest in its biggest brands. Zoom in: In a Thursday note to staff, Vox Media CEO Jim Bankoff said some Polygon staffers will join Valnet. Others will be laid off with the transaction while some will remain with the company and be transitioned over to Vox Media's tech news brand, The Verge. "Making this change allows us to better prioritize our strongest opportunities for growth," Bankoff said. "The sale also helps reduce risk related to the uncertain economic outlook, with our top priority always being the long-term strength of the company." Valnet owns a portfolio of media brands across entertainment, gaming, automotive, sports, travel and technology including ScreenRant, GameRant and Android Police. Zoom out: Gaming journalism has proven challenging for general news publishers to monetize and integrate within their portfolios. In 2023, The Washington Post shuttered its gaming vertical, Launcher, and Vice Media ended WayPoint. In 2024, GameStop shut down Game Informer, which was recently relaunched by game developer Gunzilla. The big picture: Vox Media is one of the few digital media holding companies from the 2010s era that has managed to remain independent.
