Polygon, The Verge’s former sister web site devoted to masking gaming and leisure, is now owned by Valnet, an organization that owns greater than 27 totally different manufacturers masking gaming, leisure, sports activities, journey, and extra. The transition is, let’s say, ongoing: a day after the acquisition, the positioning nonetheless mentioned it was a Vox Media property, and the positioning’s protection continued kind of uninterrupted.
However Valnet has certainly acquired Polygon, so to study extra in regards to the deal, why the corporate acquired it, and the way forward for the positioning, I obtained on the telephone with Valnet’s head of mergers and acquisitions, Rony Arzoumanian.
Polygon is a “triple-A gaming model” that Valnet has been of “excessive curiosity” for “a while,” Arzoumanian mentioned. Valnet’s gaming portfolio additionally consists of GameRant, TheGamer, Fextralife, DualShockers, Hardcore Gamer, and OpenCritic. Arzoumanian mentioned the corporate is “bullish” on gaming protection.
We expect Polygon has loads of potential and may very well be rather more.
Valnet initiated the Polygon deal, and Arzoumanian mentioned the conversations began a “few months in the past.” He declined to share the phrases of the deal.
Going ahead, Valnet desires to make sure that Polygon has the “deepest” protection of the gaming house, Arzoumanian mentioned. He declined to share particular protection expectations, however mentioned Valnet will “do what’s proper for Polygon” and that “we predict Polygon has loads of potential and may very well be rather more.”
Round 10 present Polygon staffers are transferring over to the positioning’s new proprietor, Arzoumanian mentioned. Matt Patches, who was beforehand Polygon’s govt editor, is heading issues up for now. Valnet can also be “rebuilding” the group, investing in its operations, and ensuring it builds Polygon “for the following 5 to 10 years,” based on Arzoumanian.
Valnet desires to recruit “triple-A” writers and editors for Polygon, Arzoumanian mentioned. After I requested about what the steadiness is perhaps of full-time hires and contractors, Arzoumanian deferred on specifics, however mentioned “we’ll do it proper.” Arzoumanian additionally deferred on whether or not Polygon would rent one other editor-in-chief, saying that proper now, the main focus is on guaranteeing continuity following the shut of the deal.
The sale resulted in most of Polygon’s workers leaving or being laid off, together with former editor-in-chief Chris Plante. Chris Grant, Vox Media’s group writer of The Verge and previously Polygon, said that “Valnet actually refused to fulfill with me or reply a single query of mine all through this course of.” (All of it added to what was a brutal day for gaming journalism, which additionally included the information of Fandom’s changes for Giant Bomb.)
I requested Arzoumanian about Grant’s put up, studying him the a part of the sentence I quoted above and asking if it was true. Arzoumanian mentioned that Valnet “predominantly dealt” with Jim Bankoff, Vox Media’s CEO, and that “I’m not ready to reply that, sadly.”
Valnet plans to maintain Polygon’s archives obtainable, Arzoumanian mentioned, that means we received’t see a repeat of GameStop’s Thanos-snap disappearance of Game Informer’s archives. (Sport Informer, happily, is back now.) After I requested if Valnet plans to introduce AI-generated tales onto Polygon, which has been a disconcerting development at other publications, Arzoumanian mentioned, “by no means.”
I additionally requested if Valnet extra broadly is making adjustments in response to a latest report about Valnet from TheWrap, which included an allegation from one former contributor about “virtually sweatshop-level” working situations at a Valnet publication. Arzoumanian pointed me to Valnet’s press launch about its recent defamation lawsuit filed in opposition to The Wrap.
A 12 months from now, Arzoumanian mentioned he doesn’t count on issues to be that totally different. Valnet desires to keep up course and preserve investing within the model. He deferred to the operations aspect of Valnet on whether or not the corporate desires Polygon to change to scored reviews.