James Murdoch Buys New York Magazine, Vox Media’s Podcast Network and Vox Website in Deal Reportedly Worth More Than $300 Million

James Murdoch‘s Lupa Systems media and tech holding company, is buying a big swath of Vox Media‘s holdings.

Murdoch’s company has agreed to acquire New York Magazine, the Vox Media Podcast Network and Vox.com. Terms of the deal weren’t disclosed. Lupa is paying more than $300 million for the collection of Vox Media assets, the New York Times reported, citing anonymous sources.

New York Magazine, the podcasts and Vox.com will operate as a subsidiary of Lupa Systems — which will be called “Vox Media.” Other former Vox Media properties Eater, Popsugar, SB Nation, The Dodo and The Verge are not included in the transaction.

“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,” James Murdoch said in a statement. “It will allow us to apply new tools across the businesses we are building, adding substantial production, distribution, and editorial capability to our group.”

The new Vox Media will continue to be led by Jim Bankoff, who co-founded the company and has led its growth since its early days as a network of a dozen grassroots sports blogs. He will be CEO of the new company upon closing.