New York (CNN Business) Vox Media, owner of sites including Vox and The Verge, has added a new element to its publication portfolio: New York magazine.

The New York Times first reported the acquisition . The deal is an all-stock transaction, according to the Times.

The company said in a news release that Jim Bankoff, Vox Media CEO and chairman, will continue to lead all aspects of Vox Media. Pamela Wasserstein, chief executive of New York Media, will serve as president and have a seat on the company's board of directors.

"We have drawn inspiration from Vox Media, watching their growth trajectory and success in developing premium editorial brands and leading the industry in areas like podcasting and entertainment," Wasserstein said. "As I began talking with Jim about what the future might look like together, it quickly became apparent that our companies pair incredibly well."