James Murdoch Buys Half of Vox Media for $300M+, Including New York Magazine and Podcast Network

James Murdoch, 53, is acquiring roughly half of Vox Media through his investment firm Lupa Systems for more than $300 million — the biggest media deal he's struck since a $3.3 billion family settlement last year resolved control of the Murdoch empire. The purchase includes New York magazine (once owned by his father Rupert), Vox.com, and a podcast network that generated over $80 million in revenue in 2025. The deal is expected to close within weeks.

Notably absent from the sale: The Verge, Eater, and several other Vox Media websites, which will spin off into a new, still-unnamed independent company run by Vox Media president Ryan Pauley. Vox Media CEO Jim Bankoff is staying on — but with the Murdoch-backed half of the company, focused on what he calls 'multimedia talent.' Bankoff co-founded Vox Media in 2011 and credits the podcast network's rise with saving the company from the AI-driven collapse in search traffic that has gutted digital advertising for competitors.

Murdoch frames the acquisition as a bet on authenticity and scarcity in a media landscape drowning in AI-generated content. He's not interested in breaking news — he wants 'longer-form, thoughtful journalism that can really speak to the culture.' The podcast roster of nearly 50 shows, including Kara Swisher and Scott Galloway's 'Pivot' and 'Today, Explained,' fits that vision. Murdoch explicitly distanced himself from any ideological or dynastic statement, insisting he's 'just trying to build a great business' and that his father's former ownership of New York magazine holds no special meaning for him.

The deal lands as a stark marker of how far the first wave of digital media has fallen. Vox Media was valued at roughly $1 billion in 2015; Vice has gone bankrupt; BuzzFeed just sold a 52% stake for $120 million — a fraction of its former $1.7 billion valuation. Lupa Systems' portfolio now spans the Tribeca Film Festival parent, Art Basel's owner, and an Indian streaming service, with Murdoch aiming to weave Vox Media into that broader cultural and entertainment ecosystem. He and wife Kathryn have also separately backed news startups including The Bulwark and The 19th.