James Murdoch Now Acquiring Three Major Divisions Of Vox Media
Billionaire media mogul Rupert Murdoch’s son James Murdoch is acquiring three major divisions of Vox Media. Murdoch’s media and technology holding company Lupa Systems announced Thursday that it has agreed to purchase…
Billionaire media mogul Rupert Murdoch’s son James Murdoch is acquiring three major divisions of Vox Media.
Murdoch’s media and Technology holding company Lupa Systems announced Thursday that it has agreed to purchase New York Magazine, the Vox Media Podcast Network, and Vox.com. Murdoch is spending $300 million for the properties, The Wall Street Journal reported, citing an anonymous source familiar with the matter.
The properties will now operate as a subsidiary of Lupa Systems called Vox Media, per the news release. The acquisition “aligns well with our existing holdings and investments and reflects both our interest in the forward edge of culture and our deep commitment to ambitious journalism and agenda-setting conversations,” Murdoch said in a Thursday statement.
“It will allow us to apply new tools across the businesses we are building, adding substantial production, distribution, and editorial capability to our group,” Murdoch continued.
When reached for comment, Lupa Systems and Vox Media each referred the Daily Caller News Foundation