James Murdoch Buys New York Magazine, Vox.com

James Murdoch, the younger son of media tycoon Rupert Murdoch, is buying a major collection of Vox Media assets.

Lupa Systems, James Murdoch’s investment company, said Wednesday it had reached a deal to acquire New York Magazine, Vox.com, and the Vox Media Podcast Network. The purchase price was not disclosed.

Those properties will form a new subsidiary of Lupa Systems, retain the Vox Media brand, and continue to be led by Vox Media co-founder and CEO Jim Bankoff, according to the announcement.

James Murdoch said in a statement that the deal “reflects both our interests in the forward edge of culture and our deep commitment to ambitious journalism and agenda-setting conversations.”

Other Vox-owned properties—including Eater, PopSugar, SB Nation, The Dodo, and The Verge—are not included in the transaction. Bankoff said those brands will be spun off into a separate company under a new corporate name that has yet to be determined. That company will be led by Ryan Pauley, Vox Media’s current president.

“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,” Bankoff said in a message to staffers. “Each company will be better positioned to grow within a focused portfolio of complementary businesses.”

The deal would, after many decades, once again bring New York Magazine into the Murdoch family’s orbit. Rupert Murdoch owned the publication between 1976 and 1991. Vox acquired the magazine in 2019.

Vox, built through a series of acquisitions after its founding in 2011, struggled as the broader digital media industry underwent a wave of retrenchment.

Just earlier this month, BuzzFeed sold a controlling stake for $120 million, far below its peak valuation of $1.5 billion a decade ago. Vice, another major player in the 2010s digital media ecosystem, filed for bankruptcy and ceased operation in 2024.

Vox has fared better than many of its peers. Still, the once acquisition-hungry company sold its gaming and entertainment site Polygon last year and has gone through multiple rounds of layoffs, most recently in January.

For James Murdoch, the deal expands his footprint in news and media after his break from his family’s conservative-leaning media empire.

James Murdoch founded Lupa Systems in 2019 after stepping down as chief executive of 21st Century Fox. The following year, he resigned from the board of News Corp, citing disagreements over editorial content.

News Corp, controlled by Rupert Murdoch, owns The Wall Street Journal, The New York Post, and major newspaper and television assets in Australia and the United Kingdom. Fox Corp., another Rupert Murdoch-controlled company, owns Fox News.

James Murdoch was also a central figure in his family’s succession battle, which was resolved in a settlement last September. Through a series of complex transactions, Rupert Murdoch and his son Lachlan—his chosen heir—bought out the interests of Lachlan’s three siblings, Prudence, Elisabeth, and James, securing Lachlan’s path to full control of both News and Fox Corps.