James Murdoch is in advanced discussions to acquire New York Magazine and the podcast division of Vox Media, according to a report by The Wall Street Journal.
The potential deal is being pursued through Murdoch’s investment firm, Lupa Systems, and has not yet been finalised, the report said, citing people familiar with the matter.
If completed, the transaction would give Murdoch control of a prominent US magazine brand along with a sizable podcast business. Vox Media has reportedly been exploring a sale of both New York Magazine and the Vox Media Podcast Network in recent months.
Also read: Publishers take Meta to court over alleged use of copyrighted content for AI training
Neither Vox Media nor representatives for Murdoch have commented publicly on this.
Murdoch has been building Lupa Systems as a media, technology and entertainment-focused investment firm, separate from the media businesses historically associated with his family. The broader Murdoch media empire includes companies such as Fox News and News Corp.
In September, the Murdoch family reached an agreement that resulted in control of the family’s media assets passing to Lachlan Murdoch, while other family members, including James Murdoch, received financial payouts, according to a source.
First Published on