James Murdoch to acquire New York Magazine and Vox Media Podcast Network
Summary
James Murdoch’s company, Lupa Systems, will buy New York Magazine and the Vox Media Podcast Network from Vox Media for over $300 million. The deal includes Vox.com and aims to grow Murdoch’s presence in news and entertainment.Key Facts
- James Murdoch is buying New York Magazine and Vox Media’s podcast division.
- The purchase price is more than $300 million.
- The deal includes the politics site Vox.com but not some other Vox Media brands like Eater and The Verge.
- James Murdoch and his wife actively recruited top podcast talent such as Kara Swisher and Scott Galloway.
- Vox’s podcast network has a large audience that advertisers want to reach, comparable to cable news.
- New York Magazine covers culture, politics, and fashion and has over 400,000 paying subscribers.
- Vox Media CEO Jim Bankoff will join Lupa Systems and keep leading the Vox brands.
- James Murdoch previously left News Corp over editorial disagreements and started Lupa Systems in 2019.
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