James Murdoch's media and technology holding company Lupa Systems has agreed to acquire New York Magazine, the Vox Media Podcast Network and Vox from digital media group Vox Media.
His father, Rupert Murdoch, the founder of News Corp, now headed by oldest son Lachlan, owned New York Magazine for 20 years until 1991.
James, the 53-year-old younger son of Rupert, reportedly paid about $US300 million.
The acquired properties will operate as a subsidiary of Lupa Systems under the Vox Media name, led by Jim Bankoff as CEO upon closing. Not included in the transaction are Eater, Popsugar, SB Nation, The Dodo and The Verge.
The acquisition gives Lupa New York Magazine and its verticals — The Cut, Vulture, Intelligencer, The Strategist, Curbed and Grub Street — along with Vox and the Vox Media Podcast Network, which includes Pivot with Kara Swisher and Scott Galloway, Criminal and Where Should We Begin? with Esther Perel.
The podcast network reaches tens of millions across audio, video and social platforms and has been the fastest growing division within Vox Media.
Murdoch said the acquisition reflected Lupa's interest in culture and its commitment to ambitious journalism.
"It will allow us to apply new tools across the businesses we are building, adding substantial production, distribution, and editorial capability to our group," he said.
Bankoff said the Vox Media divisions were each marked by strong audience relevance, commitment to quality and growth potential.
"Together under Lupa's stewardship we are primed to be the best home for talent and the most dynamic media company of this new era," he said.
Lupa's existing holdings include Art Basel through MCH Group, Tribeca Enterprises and a material stake in India's JioStar streaming platform through Bodhi Tree Systems.
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