James Murdoch and his wife Kathryn Hufschmid at Murdoch's father's wedding in 2016. Murdoch and his company Lupa Systems purchased New York magazine and Vox.com. File Photo by Arrizabalaga Facundo/EPA
May 20 (UPI) -- James Murdoch, the youngest son of Media giant Rupert Murdoch, is buying New York magazine and Vox.com but not some other media sites in the group.
James Murdoch owns media and tech holding company Lupa Systems, which purchased the media assets. Besides New York and Vox.com, Lupa Systems will also acquire Vox's podcast network.
Vox Media CEO Jim Bankoff said in an email to staff that he will leave to head up a new company owned by Murdoch. Vox Media President Ryan Pauley will lead a new company, which will get a new name and include the brands that were left out of the sale: SB Nation, the Dodo, Eater, the Verge and Popsugar.
The company said that the deal is expected to close in four to six weeks.
