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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