James Murdoch has made a deal with Vox Media for more than $US300 million ($419 million).
Mediaweek reported that earlier this month, the younger son of media mogul Rupert Murdoch, had bid for a significant share of the company.
The Sydney Morning Herald reports that in the deal announced on Wednesday, James’ company Lupa Systems will acquire Vox’s podcast network and New York magazine – a publication once owned by Rupert.
The iconic 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.
However, the deal excludes the Vox-owned technology website The Verge and lifestyle publication Popsugar.
“This 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 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.”
In 2025, Murdoch gave up his interest in News Corp and Fox Corp as part of a $US3.3 billion ($4.6 billion) agreement with his family.
He has been growing his venture company Lupa Systems, since he exited 21st Century Fox in 2019.
In recent years, major political differences have driven a wedge between Rupert, Lachlan Murdoch, and James.
James has officially distanced himself from 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