Valnet Purchases Polygon, Editorial Leadership Downsized
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- Valnet purchased Polygon, which joins The Valnet Gaming Group.
- Polygon saw layoffs to its editorial leadership, with the editor-in-chief, deputy editor, a senior writer and a senior reporter having been laid off.
- The acquisition was shared via a press release, which failed to mention the widespread layoffs.
Vox Media sold Polygon to Valnet, a digital publishing and media investment company that also owns GameRant, The Gamer and many other game media companies. The exact monetary value of the acquisition was not disclosed. Valnet’s purchase of Polygon went live on May 1 via a public statement, which failed to mention the widespread layoffs that affected the media company.
According to Kotaku, which sources social media, Polygon’s editorial leadership saw job cuts; Chris Plante, Polygon co-founder and editor-in-chief, and Matthew Reynolds, deputy editor, were both laid off. The two had very influential roles that undoubtedly heavily impacted the media company’s news reporting and overall direction. Other publicly announced layoffs were games writer Tyler Colp and senior reporter Nicole Carpenter.
In his social media post breaking the news, Plante urged those hiring to consider the staff that was affected by job cuts.
“Every one of them deserves a spot on your staff. I won’t be talking more about the sale because I wasn’t involved. Going to hang out with my kid. Taking wins where I can,” he shared, attempting to make the best of his circumstances.
While many of the affected staff lamented their job loss, Valnet celebrated their partnership with pride.
“This moment marks a powerful reaffirmation of our deep commitment to gaming, a space we’ve passionately invested in for years,” Hassan Youssef, CEO and founder at Valnet, stated in an official statement.
“The addition of Polygon not only strengthens our editorial muscle but also amplifies our ability to deliver unmatched value to both audiences and advertisers.”
Valnet is a leading publishing and media investment company. Growjo estimates the company’s annual revenue to be $534.1 million per year. The company was founded in 2012 and owns over 27 brands across various verticals.
