James Murdoch's media and tech holding company Lupa Systems is set to acquire nearly half of Vox Media in a deal reportedly worth over $300 million. According to multiple reports, the acquisition includes New York Magazine, Vox.com, and the company's podcast network featuring popular shows like 'Today, Explained' and 'Pivot with Kara Swisher and Scott Galloway'. The transaction excludes several other Vox Media properties including Eater, The Verge, SB Nation, and The Dodo.
Key Takeaways
James Murdoch's Lupa Systems is acquiring nearly half of Vox Media, including New York Magazine and its podcast network, in a deal reportedly worth over $300 million. The acquisition strengthens Murdoch's media portfolio amid evolving digital landscape.
- James Murdoch acquires major Vox Media assets through Lupa Systems
- Deal includes New York Magazine, Vox.com, and popular podcasts like 'Today, Explained'
- Acquisition excludes properties like Eater, The Verge, and SB Nation
- Jim Bankoff to continue leading acquired brands under Vox Media label
The acquisition marks one of Murdoch's largest deals since resolving a $3.3 billion family dispute last year over the future control of their media empire. As part of that settlement, James received roughly $1 billion while his elder brother Lachlan assumed power over the family's assets including Fox News and The Wall Street Journal.
Vox Media CEO Jim Bankoff will join Lupa Systems but continue to lead the acquired brands under the Vox Media label. The deal is expected to close in four to six weeks, per reports from UPI and Reuters. Other media holdings of Lupa Systems include Art Basel, Tribeca Enterprises, and a stake in Indian streaming platform JioStar.
James Murdoch told The New York Times that the acquisition aligns with his interest in 'longer-form, thoughtful journalism' rather than daily news. Vox's podcast division was reportedly valued higher than New York Magazine in the transaction, highlighting the importance of securing top talent like Kara Swisher and Scott Galloway.
The deal represents a significant expansion of Murdoch's media portfolio following his departure from his family's conservative-leaning media empire. It comes as digital publishers seek new growth avenues in an evolving media landscape where podcasts are reaching 58% of Americans monthly, according to Edison Research cited by The Guardian.
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