Lupa Systems, James Murdoch’s media and technology holding company, has agreed to acquire New York Magazine, the Vox Media Podcast Network, and Vox from the digital media group Vox Media.
The properties will operate as a subsidiary of Lupa Systems called Vox Media. Eater, Popsugar, SB Nation, The Dodo, and The Verge are not included in the transaction.
“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,” said James Murdoch. “It will allow us to apply new tools across the businesses we are building, adding substantial production, distribution, and editorial capability to our group.”
Lupa’s acquisition of New York Magazine includes its verticals, The Cut, Vulture, Intelligencer, The Strategist, Curbed, and Grub Street.
The new Vox Media will be led by Jim Bankoff, who co-founded Vox Media and has led its growth since its early days as a network of a dozen grassroots sports blogs. He will be CEO of the new company upon closing.
Lupa’s holdings include MCH Group’s Art Basel and Tribeca Enterprises, the media and entertainment company co-founded by Robert DeNiro and Jane Rosenthal. Through Bodhi Tree Systems, Lupa also holds a material stake in India’s streaming entertainment and sports platform, JioStar.
James Murdoch has previously served as CEO of 21st Century Fox, as well as Europe’s BSkyB and Sky plc. Before that, he was CEO of Asia’s Star TV.
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