Lupa Systems, the company controlled by media mogul James Murdoch, is in talks to acquire major parts of Vox Media, the parent company of New York magazine, it’s being widely reported.
According to the Wall Street Journal the Australian Financial Review, the information comes from two sources with knowledge of the discussions.
Murdoch is said to be in talks with Vox Media about buying New York magazine and Vox podcast division assets, Rupert Murdoch’s the Wall Street Journal reported, citing sources – and claiming the deal is not definite.
New York magazine has been owned by Vox Media since 2019, when it was bought from Pamela Wasserstein, the daughter of investment banker Bruce Wasserstein, who had owned the publication since 2004.
The AFR reports that: “The acquisitions would further expand James and his wife Kathryn Murdoch’s portfolio of zeitgeisty media properties. Lupa’s investments include stakes in Tribeca Enterprises, which runs the Tribeca Film Festival, as well as Art Basel parent MCH Group.
“Kathryn Murdoch has invested in the Bulwark, a fast-growing digital news startup for people who don’t support President Trump.”
James Murdoch and his wife, Kathryn.
James Murdoch has recently been growing his venture company Lupa Systems, since he exited 21st Century Fox in 2019.
The Hollywood Reporter says: “If a deal closes, Murdoch would be vaulted more prominently into the world of billionaires who own a single, influential news outlet, like Jeff Bezos’ Washington Post or Marc Benioff at Time.
“Most of those owners could be considered a vanity media owners. Most have, at one point, invested in the long-term growth of those properties and a few have since retrenched and cut costs.
“By contrast, James Murdoch has the bank account of a vanity owner but has had a long career as a media operator.”
Over the past few years, James has distanced himself from his older brother Lachlan’s more conservative-leaning politics, instead behaving as a centrist by donating to climate change non-profits and Democrat-focussed issues.
Top image: James Murdoch. Image: WSJ