James Murdoch is currently in talks to buy assets from Vox Media, which includes New York magazine and its podcast division. This deal could total more than $300 million, according to some insiders.
Murdoch plans to make this purchase through his investment firm, Lupa Systems, and it could really boost his influence in the U.S. media scene. It's still unclear whether Vox Media is in talks with other potential buyers.
Vox has been considering a sale, either a full one or a piecemeal one, due to ongoing struggles in the digital media world, such as declining ad revenue and shifting audience habits.
The assets on the table include New York magazine's well-known brands like The Cut, Vulture, and Intelligencer, and Vox's podcast network, which features popular shows such as "Pivot" and "Today, Explained."
For Murdoch, this deal is a chance to expand on his existing media investments, which already include stakes in the Tribeca Film Festival and various international entertainment projects. Plus, this acquisition would bring him back to a magazine that his father, Rupert Murdoch, owned from 1976 to 1991.
James Murdoch, who once served as the CEO of 21st Century Fox, has been forging his own way since stepping away from the family's media business. He left the Fox Corp board in 2020 over disagreements about editorial direction and has become a more politically moderate figure compared to his father.
If this deal goes through, it will give Murdoch a significant position in U.S. publishing and audio media at a time of major industry consolidation.
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