It’s a done deal: James Murdoch‘s Lupa Systems has acquired New York magazine, the Vox Media Podcast Network and Vox.
Notably, Vox Media CEO Jim Bankoff will also join New York and Vox within the new company, which will take the name Vox Media. Terms of the deal were not disclosed, but The New York Times pegged the value at more than $300 million.
The deal gives Murdoch control over the prominent magazine, which includes sub-brands like The Cut, Vulture, Intelligencer, The Strategist, Curbed, and Grub Street, as well as Vox.com, which originated the explainer news format, and produces popular shows like Today, Explained. The podcast networks includes shows like Pivot with Kara Swisher and Scott Galloway, Criminal, and Where Should We Begin? with Esther Perel.
Murdoch’s father, Rupert Murdoch, also once owned New York, though he sold it in 1991.
“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,” said Murdoch 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.”
