An article summarized by Variety:
James Murdoch’s investment firm, Lupa Systems, is acquiring several major assets from Vox Media in a deal reportedly worth more than $300 million. The acquisition includes New York Magazine, Vox.com, and the Vox Media Podcast Network. After the deal closes, those properties will operate under a new Lupa-owned subsidiary that will still be called Vox Media and continue to be led by CEO Jim Bankoff. Other Vox Media brands, including Eater, The Verge, SB Nation, Popsugar, and The Dodo, are not part of the sale and will instead become a separate independent company.
The move marks a major expansion for James Murdoch’s growing media portfolio and highlights his push into journalism, culture, and digital media following his split from the Murdoch family empire. Murdoch said the acquisition aligns with Lupa’s focus on “ambitious journalism” and “agenda-setting conversations.” The deal also gives Lupa ownership of major brands and podcasts including The Cut, Vulture, Intelligencer, Grub Street, “Today, Explained,” and “Pivot” with Kara Swisher and Scott Galloway. Vox Media’s leadership praised the partnership, saying it positions the brands for future growth and strengthens their editorial and production capabilities.
The acquisition also adds another chapter to the Murdoch family’s complicated media history. Rupert Murdoch once owned New York Magazine before selling it decades ago, and James Murdoch has increasingly distanced himself from the family’s conservative media empire in recent years. After leaving News Corp’s board in 2020 over editorial disagreements, he launched Lupa Systems and invested heavily in journalism, entertainment, and streaming businesses. The deal comes less than a year after a Murdoch family legal settlement that solidified Lachlan Murdoch’s control over Fox and News Corp while James exited with a multibillion-dollar payout.
