Polygon, a gaming and entertainment site owned by Vox Media, has been sold to Valnet, a company known for its extensive portfolio in similar domains. Some staffers will join Valnet while others face layoffs, as stated in communications to Vox Media employees. Valnet aims to strengthen its gaming media presence by integrating Polygon into its existing portfolio, following recent acquisitions, but concerns about working conditions within Valnet properties have been raised by former contributors. Vox Media's CEO cites the challenging economic climate and industry shifts as reasons for the sale.
"This addition follows Valnet's recent acquisition of FextraLife earlier this year, further strengthening its position in the gaming media landscape."
"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."
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