James Murdoch is buying Vox, New York Magazine and the Vox Media Podcast Network via his private holding company Lupa Systems.
Vox Media chief executive Jim Bankoff will lead a new company, also called Vox Media, housing them under Lupa ownership.
The deal does not include Vox Media titles The Verge, Eater, Popsugar, SB Nation and The Dodo and these will come under a new corporate name yet to be determined led by current Vox Media president Ryan Pauley.
The deal, reportedly worth more than $300m, is expected to close in four to six weeks.
Murdoch said the deal “reflects both our interest in the forward edge of culture and our deep commitment to ambitious journalism and agenda-setting conversations.
“It will allow us to apply new tools across the businesses we are building, adding substantial production, distribution, and editorial capability to our group.”
He told The New York Times he wanted “longer-form, thoughtful journalism that can really speak to the culture” rather than a “daily news business”.
New York Magazine was previously owned by his father, Rupert between 1976 to 1991 but James told the NYT this was not significant to him.
Lupa, which Murdoch founded in 2019, has already invested in art show company Art Basel and the production company behind the Tribeca Film Festival co-founded by Robert De Niro.
It took a minority stake in Vice Media in 2019 but that business went bankrupt in 2023.
Bankoff said in a note to staff: “Separating into two distinct companies best sets up our brands, shows, businesses, talent, and teams to continue to lead and prosper in the changing media landscape. Each company will be better positioned to grow within a focused portfolio of complementary businesses.”
He added: “Eater, Popsugar, SB Nation, The Dodo, and The Verge are each in a strong place as distinct brands, and we have no plans to separate them. Each will continue under its current leadership…”
The Vox Media Podcast Network, which a press release said was the fastest-growing business in Vox Media, has almost 50 shows including Pivot with Kara Swisher and Scott Galloway, Vox’s Today, Explained, and Where Should We Begin? with Esther Perel, a psychotherapist.
Vox is an explainer-based newsbrand with tens of thousands of paying subscribers and New York Magazine, founded in 1968, has a bi-weekly print magazine as well as its online presence and has more than 400,000 paying subscribers.
James Murdoch is a former chairman and CEO of News Corp for Europe and Asia and also worked as CEO of 21st Century Fox. He reportedly received more than $1bn in 2025, along with three of his siblings, under a deal which gave brother Lachlan control of the Murdoch media empire after father Rupert’s death.
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