Media scion James Murdoch strikes deal to purchase New York magazine and Vox
Summary
James Murdoch's company, Lupa Systems, is buying New York magazine, the Vox Media Podcast Network, and the Vox editorial brand from Vox Media. The deal, worth over $300 million, will make these media outlets part of Lupa and aims to expand Murdoch's media presence with a focus on strong journalism.Key Facts
- James Murdoch, son of Rupert Murdoch, is acquiring parts of Vox Media through his company Lupa Systems.
- The purchase includes New York magazine, several of its related websites, and the Vox Media Podcast Network.
- The deal does not include some Vox brands like Eater, Popsugar, The Verge, and others.
- The Vox Media Podcast Network includes popular shows such as "Criminal" and "Pivot."
- The purchase price is estimated to be over $300 million.
- Current Vox CEO Jim Bankoff will continue leading the merged company after the deal closes.
- New York magazine’s editor-in-chief promised the magazine will keep its independent journalism.
- This acquisition is part of James Murdoch building his own media group distinct from the rest of the Murdoch family empire.
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