From a New York Times story by Benjamin Mullin and Katherine Rosman headlined “Vox Media Is Raising $100 Million From Penske Media”:

Vox Media, owner of publications including New York Magazine and tech site The Verge, is raising $100 million from Penske Media, the owner of a swath of entertainment and trade publications including Rolling Stone and Variety.

As a result of the investment, Penske Media will own about 20 percent of Vox Media, making it the largest shareholder of the company.