Axios reports Tuesday that CVC, an European private equity company, and Group Black, a media group, have joined forces in a joint bid on Vox Media.
According to Axios the memo included details of a possible deal between the two companies and Vox Media.
A spokesperson for Group Black and Vox Media declined to comment and representatives for CVC did not immediately respond to ’s request for comment.
Vox Media, was valuedThe company has a large portfolio of brands, including Vox, New York Magazine, Vox, Eater, Vulture, and The Strategist. It is valued at around $1 billion, having closed a round of funding in 2015 worth $200 million.
Vox Media also has sites like Polygon and SB Nation, Intelligencers, Curbed, Grub Streets, Recode, Thrillists, Popsugars, The Dodo and NowThis.
The potential acquisition follows Axios’ Nov. 1 Report that CVC would join Group Black’s potential acquisition of BDG, formerly known as Bustle Media Group.
Group Black is a media group that includes over 150 Black-owned media companies. It offers a broad range of multi-channel offerings. WebsiteAfropunks, Essence and Holler are all included.
CVC Capital Partners, an alternative investment manager, is currently partnered with several brands in media and sports including Bruin Capital and United Rugby Championship. A source said that CVC was interested in exploring media brands in the U.S. as a part of their overall strategy.
