"Media scion James Murdoch has agreed to acquire New York Magazine and the Vox Media Podcast Network in a deal that will significantly expand his portfolio and stands to boost his influence over news and entertainment. The deal, valued at more than $300m, gives Murdoch control of a storied magazine and a podcast division with a reach valued by advertisers."
"The deal, valued at more than $300m, gives Murdoch control of a storied magazine known for its coverage of culture, politics and fashion, and a podcast division whose reach, among a demographic coveted by advertisers, rivals that of cable television news networks, according to several people with direct knowledge of the acquisition. The politics news site Vox.com is also included."
"Murdoch and his wife Kathryn Murdoch were intimately involved in courting key talent from Vox, specifically Kara Swisher and Scott Galloway, stars of the popular Pivot podcast, as well as several other programmes on the company's podcast network. I like James and Kathryn, Swisher said in a phone interview. Unlike many other media owners these days, they're savvy about the business and willing to take smart risks."
"Vox's podcast division was valued much higher than New York Magazine in the transaction, two of the people said, spotlighting the importance of making sure top programmes were locked in. Pivot, for example, has three years remaining on its contract, which will continue under Murdoch. In a company like Vox, if its talent doesn't like something, it's not gonna happen, Galloway said in an interview."
Lupa Systems will buy New York Magazine, Vox.com, and the Vox Media Podcast Network from Vox Media in a deal valued at more than $300m. The acquisition gives Murdoch control of a magazine known for coverage of culture, politics, and fashion, and a podcast division with reach valued by advertisers. The podcast network includes programs such as Pivot, which has three years remaining on its contract and will continue under Murdoch. Murdoch and Kathryn Murdoch were involved in courting key Vox talent, including Kara Swisher and Scott Galloway. Talent involvement is presented as important to keeping programming aligned with creators’ preferences.
Read at www.aljazeera.com
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