#VoxMedia, one of the preeminent editorial roll-ups of the last decade, is expected to unwind parts of its portfolio in the coming months via a combination of sales, spin-offs, and divestitures, according to five people familiar with the company and its finances. Since the pandemic, the value of Vox Media has been shrinking faster than its constituent elements can be optimized, according to three of the people. That reality spurred chief executive Jim Bankoff to begin exploring potential exit strategies for the company several years ago. The $100 million investment Vox Media received from Penske Media Company in 2023, widely interpreted inside the company as a prelude to acquisition rather than a vote of confidence, has only accelerated the expectation. “The value that these businesses once held is shrinking,” said one person close to the business. “It’s harder to compete now than ever. It doesn’t feel like it is getting more valuable.” Vox Media declined to comment on the record.