Vox Media has agreed to acquire New York Media—the company behind New York magazine and websites like Vulture and The Cut—in an “all-stock transaction” on Tuesday, the New York Times reports. The value of the deal is reportedly undisclosed, and both parties said nothing would change editorially for any of the brands. Pamela Wasserstein will continue to run New York Media under her new title as president of Vox Media, and have a seat on Vox Media's board. Vox Media chief executive and chairman Jim Bankoff will also retain his position, and he pledged that no editorial layoffs or folding of publications would result from the deal. David Haskell—New York’s editor in chief—will still be in charge of the magazine and websites, while Vox Media publisher Melissa Bell will still manage the editorial teams at Vox. “No one had to do this,” Wasserstein told the Times. “It’s a brilliant, in our view, opportunity, so that’s why we leaned into it. It’s not out of need. It’s out of ambition.”