James Murdoch Is Going Media Shopping

James Murdoch is making his biggest US media move yet—and it's not in cable news. As the New York Times reports, the younger Murdoch is buying roughly half of Vox Media through his firm Lupa Systems, scooping up New York magazine, Vox.com, and the company's sprawling podcast arm in a deal said to top $300 million. The purchase pointedly does not include tech site the Verge and foodie site Eater, which will spin out into a separate company under Vox president Ryan Pauley. Murdoch, who quit the News Corp board in 2020 and criticized some of its climate coverage, insists this isn't a rebellion against his father so much as a bet on "longer-form, thoughtful journalism." "We want to create platforms where really amazing, talented people can come and do the best work of their lives," he said.

For Vox CEO Jim Bankoff, who has steered the company through collapsing digital ad markets and AI-squeezed search traffic, Murdoch offers what he calls a "long-term steward" for its podcast and magazine-heavy future. "Separating into two distinct companies best sets up our brands, shows, businesses, talent, and teams to continue to lead and prosper in the changing media landscape," Bankoff said in a note to staff, per the Wall Street Journal. The deal also marks a new chapter for once high-flying digital outlets like Vox, BuzzFeed, and Vice. For the full picture, read the Times piece.