James Murdoch just made a big investment in the American news media.
On Wednesday morning, his media and tech holding company, Lupa Systems, said it had agreed to acquire most of Vox Media, including Vox’s main website, its popular podcast network, and New York magazine.
The deal was announced hours after New York won the National Magazine Award for general excellence from the American Society of Magazine Editors — a fresh affirmation of the title’s stature in the media industry in an era defined by business model disruption.
Murdoch said in a statement that acquiring the magazine, the podcast network and Vox.com “reflects both our interest in the forward edge of culture and our deep commitment to ambitious journalism and agenda-setting conversations.”
The parties declined to comment on the purchase price, but CNN previously reported that the assets would fetch $300 million or more.
