James Murdoch in talks to buy New York magazine and Vox podcasts for $300M or more

By Brian Stelter, CNN

(CNN) — James Murdoch may be the next owner of New York magazine and Vox Media’s podcast network.

Murdoch’s investment company, Lupa Systems, is in talks to acquire the assets for $300 million or more, two people with knowledge of the discussions told CNN. It is unclear if there are active talks with other bidders.

Vox Media has been exploring a sale in whole or in parts in a punishing environment for digital media businesses.

Murdoch may see an opportunity to grow his media holdings, which already include stakes in the Tribeca Film Festival and a major entertainment producer in India.

New York magazine’s portfolio includes the flagship print magazine as well as well-known websites like The Cut, Vulture and Intelligencer.

Vox’s podcast network features dozens of original programs, including “Pivot,” hosted by Kara Swisher and Scott Galloway, and “Today, Explained,” a popular daily news show.

For Murdoch, the brand could give him a significant foothold in the US media market.

Murdoch, 53, is the youngest son of Rupert Murdoch, the right-wing media mogul who controls Fox News, the New York Post and other outlets around the world. (The elder Murdoch owned New York magazine from 1976 until 1991.)

James Murdoch, who served as CEO of 21st Century Fox until 2019, broke with his family’s media empire in 2020, resigning from the board of Fox Corp amid disagreements — and in some cases disgust — with the editorial bent of the family’s brands.

James has also been a prominent Democratic donor, reflecting deep concern about President Donald Trump’s takeover of the GOP. His politics are widely viewed as more moderate than his father’s.

The deal talks with Murdoch were first reported by The Wall Street Journal. Vox did not respond to a request for comment.

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