PenskeMediaCorporation, Deadlines parent company, has made a strategic investment inVox Mediaand is now its largest shareholder.
The companies will continue to operate independently after the transaction.
Penske will join the board of directors at Vox Media as part of the investment.
It announced plans last month to lay off 7% of its staff.
LionTree acted as financial adviser to Vox Media, and White & Case was its outside legal advisor.
Morgan Lewis served as Penske Medias legal adviser, while Panarae Group acted as a corporate adviser.
