James Murdoch has agreed to acquire Vox Media’s New York magazine, Vox Media Podcast Network, and Vox editorial brand through his company Lupa Systems. The transaction is expected to close within weeks, with Lupa acquiring three divisions representing about half of Vox Media. The deal amount was not disclosed, though reporting cited a figure above $300 million. The acquired divisions will operate as a subsidiary of Lupa called Vox Media. Included properties are New York magazine and verticals such as The Cut, Vulture, Intelligencer, The Strategist, Curbed, and Grub Street, along with the podcast network featuring shows like “Criminal” and “Pivot.” Vox brands including Eater, Popsugar, SB Nation, The Dodo, and The Verge are excluded.
"James Murdoch has struck a deal with the Vox Media digital company to acquire New York magazine, the Vox Media Podcast Network and the Vox editorial brand. The deal with Vox, widely seen as liberal-leaning, represents a major move toward his own media empire for the 53-year-old younger son of Rupert Murdoch. Under the new deal, expected to close within weeks, Lupa Systems, James Murdoch's media company, acquires the three divisions - about half of Vox Media."
"Neither Vox Media nor Lupa was disclosing the sum. The New York Times cited people familiar with the matter saying it was more than $300 million. The acquired divisions will operate, according to a statement, as a subsidiary of Lupa - called Vox Media. Not included in the deal are the Vox brands Eater, Popsugar, SB Nation, The Dodo, and The Verge."
"The deal does include, along with New York magazine, its verticals The Cut, Vulture, Intelligencer, The Strategist, Curbed, and Grub Street. It also includes the Vox Media Podcast Network. which features wildly popular shows like "Criminal" and "Pivot" with Kara Swisher and Scott Galloway. The network "has been the fastest growing business within Vox Media and will immediately put Lupa at the top of the podcast field," said the Vox statement."
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