A pair of digital media darlings that share a Vanity Fair connection have reached a deal that will bring them under one roof (they already share the investment of one well-known roofing company), The Hollywood Reporter has confirmed.
Puck, the vertical newsletter brand founded by former Vanity Fair editor Jon Kelly (he created VF’s business vertical The Hive), has reached a deal to acquire Air Mail, the culture-focused media newsletter founded by the longtime Vanity Fair editor-in-chief Graydon Carter.
“Puck has entered into an exclusive agreement to acquire Air Mail. This will unite Air Mail’s distinctive journalism, stable of luxury advertisers, and sophisticated commerce platforms with Puck’s portfolio of venerated journalists, scale, and proven subscriber engagement model,” Puck and Air Mail said a joint statement, per a Puck spokesperson.
Both companies share common investors in the private equity firm TPG, as well as the roofing company and media investor Standard Industries.
Breaker’s Lachlan Cartwright first reported the news.
Terms of the deal were not readily available, though both brands have established themselves as media companies targeting the intersection of culture, money, and power (both also frequently feature the writing of longtime Wall Street chronicler Bill Cohan).
Puck, which Kelly launched in 2021, is based on a number of vertical-focused newsletters with writers focused on each of its core areas of interest, including former Hollywood Reporter editor Matt Belloni and former Sports Business Journal stalwart John Ourand.
Air Mail, meanwhile, launched in 2019 after Carter had exited Vanity Fair. The newsletter took a similar approach to the legendary Condé Nast publication, targeting a global cosmopolitan audience, with Alessandra Stanley serving as co-editor alongside Carter. Should the deal close Carter is expected to stay on for a limited time as a consultant.
Sept. 11, 5:09 p.m. Updated to confirm acquisition with a joint statement from Puck and Air Mail.
www.hollywoodreporter.com
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