Vox buys the storied New York Magazine

Vox Media, an online publisher, is buying the owner of New York Magazine, a half-century old publication chronicling the city's culture and events

NEW YORK -- Vox Media, an online publisher, is buying the owner of New York Magazine, a half-century old publication chronicling the city's culture and events.

The companies did not state a price Tuesday evening. They say the editorial brands will remain distinct and The New York Times reports the merger will not result in newsroom layoffs .

Vox owns seven sites, including tech blogs The Verge and Recode, food site Eater and Vox.com, which made the online "explainer" style famous. It makes podcasts and TV shows. New York Media has its print magazine and five websites that cover pop culture and food.

Falling subscriptions in the digital age have forced a number of deals in recent years. Vox and New York, however, say they are both strong and combining will help them grow.