James Murdoch’s Lupa Systems is acquiring three major divisions of Vox Media, including New York Magazine, the Vox news platform and the company’s podcast network, in a deal reportedly valued at more than $300 million, Reuters reported.
The transaction gives Murdoch control of one of digital media’s most recognizable magazine brands and a sizable podcast network as publishers seek new growth opportunities across multimedia formats. It was reported that the deal is valued at more than $300 million. Jim Bankoff, CEO of Vox Media, is expected to join Lupa Systems and continue leading the acquired brands following the anticipated closing.
New York Magazine operates several high-profile editorial brands, including The Cut, Vulture and Intelligencer, and reaches tens of millions of digital readers while maintaining more than 400,000 paying subscribers.