James Murdoch Buys New York Mag and Vox Brands in Sweeping $300M Deal

"James Murdoch, son of media tycoon Rupert Murdoch, will take control of New York magazine and slate of Vox sub-brands in a sweeping deal revealed Wednesday and valued at $300 million. The agreement places ownership of New York, Vox.com, and the Vox Media Podcast Network under the umbrella of his investment firm, Lupa Systems. The acquisition gives Murdoch oversight of a stable of digital publishing brands, including Intelligencer, Vulture, The Cut, Curbed, and Grub Street, alongside Vox and a podcast portfolio that includes Pivot with Kara Swisher and Scott Galloway."

"The entities will continue under the Vox Media name. The deal also marks a symbolic return for the Murdoch family to New York magazine, previously owned by Rupert Murdoch, who sold it in 1991. In 2020, however, James Murdoch broke with his father when he resigned from the board of News Corp, citing disagreements over editorial decisions. Speaking about his new acquisition in a statement on Wednesday published by The Hollywood Reporter, he said."

"“This acquisition aligns well with our existing holdings and investments and 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.”"

"Vox Media chief executive Jim Bankoff, who will remain involved in the new company, lauded the deal and said it positioned the properties to become the best home for talent and the most dynamic media company of this new era. Several Vox Media brands, including The Verge, Eater, and SB Nation, are not included in the transaction. Ryan Pauley, who served as Vox's chief revenue officer, will lead the remaining company assets, which will continue operations under a separate independent entity."

James Murdoch will take control of New York magazine and Vox sub-brands in a $300 million deal. Ownership of New York, Vox.com, and the Vox Media Podcast Network will move under Lupa Systems. The acquisition includes digital publishing brands such as Intelligencer, Vulture, The Cut, Curbed, and Grub Street, plus podcasts including Pivot with Kara Swisher and Scott Galloway. The properties will continue operating under the Vox Media name. The deal represents a return of the Murdoch family to New York magazine, which Rupert Murdoch sold in 1991. James Murdoch previously resigned from News Corp’s board in 2020 over editorial disagreements. Vox Media CEO Jim Bankoff will remain involved, while other Vox assets will be led by Ryan Pauley under a separate independent entity. The Verge, Eater, and SB Nation are excluded.

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