James Murdoch’s investment holding company, Lupa Systems, has agreed to acquire New York Magazine, Vox.com, and the Vox Media Podcast Network from digital media group Vox Media in a deal reportedly valued at more than $300 million.
The transaction covers roughly half of Vox Media’s assets. The acquired properties will operate as a subsidiary under the Vox Media name within Lupa Systems. Vox Media CEO Jim Bankoff, who co-founded the company, will remain CEO of the new entity upon closing, which the companies estimate will take four to six weeks. Investment bank LionTree advised Vox Media on the sale.
“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 an announcement.
What the Deal Includes
Lupa’s acquisition of New York Magazine encompasses the publication’s six digital verticals: Vulture, The Cut, Intelligencer, The Strategist, Curbed, and Grub Street. New York Magazine currently counts more than 400,000 paying subscribers and 12 million social media followers.
The Vox Media Podcast Network brings approximately 40 shows to the deal, including “Pivot with Kara Swisher and Scott Galloway,” “Criminal,” and “Where Should We Begin?” with Esther Perel. Vox.com, whose editor-in-chief is Swati Sharma, operates a YouTube channel with nearly 13 million subscribers and a membership program with tens of thousands of paying subscribers.
Podcasting now reaches 58% of Americans monthly, according to Edison Research, including two out of three people ages 18 to 54.
The Verge, Eater, SB Nation, POPSUGAR, and The Dodo are not part of the transaction. Those brands will form a new independent company led by Ryan Pauley, currently Vox Media’s President. Penske Media Corporation, Vox Media’s principal shareholder, is expected to increase its stake in the remaining entity.
Context and Competition
Vox Media explored a full sale, partial sales, and spin-offs throughout late 2025 and early 2026, according to Semafor. Competing suitor Versant also submitted a bid; Vox Media’s board selected Murdoch’s offer, which included more cash, per The New York Times. Versant CEO Mark Lazarus told Business Insider that Bankoff sought to maximize return on assets beyond the podcast network, including Vox.com and New York Magazine.
The acquired properties join a Lupa Systems portfolio that includes Tribeca Enterprises, which produces the Tribeca Film Festival, and Art Basel. Murdoch founded Lupa Systems in 2019 following the $71 billion sale of 21st Century Fox to Disney.
“I couldn’t be more thrilled to partner with James and Lupa Systems,” Bankoff said in the announcement. “Each one of these Vox Media divisions is marked by its strong relevance with audiences, its commitment to quality, and its enormous growth potential.”
Dragomir is a Serbian freelance blog writer and translator. He is passionate about covering insightful stories and exploring topics such as influencer marketing, the creator economy, technology, business, and cyber fraud.
James Murdoch’s investment holding company, Lupa Systems, has agreed to acquire New York Magazine, Vox.com, and the Vox Media Podcast Network from digital media group Vox Media in a deal reportedly valued at more than $300 million.
The transaction covers roughly half of Vox Media’s assets. The acquired properties will operate as a subsidiary under the Vox Media name within Lupa Systems. Vox Media CEO Jim Bankoff, who co-founded the company, will remain CEO of the new entity upon closing, which the companies estimate will take four to six weeks. Investment bank LionTree advised Vox Media on the sale.
“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 an announcement.
What the Deal Includes
Lupa’s acquisition of New York Magazine encompasses the publication’s six digital verticals: Vulture, The Cut, Intelligencer, The Strategist, Curbed, and Grub Street. New York Magazine currently counts more than 400,000 paying subscribers and 12 million social media followers.
The Vox Media Podcast Network brings approximately 40 shows to the deal, including “Pivot with Kara Swisher and Scott Galloway,” “Criminal,” and “Where Should We Begin?” with Esther Perel. Vox.com, whose editor-in-chief is Swati Sharma, operates a YouTube channel with nearly 13 million subscribers and a membership program with tens of thousands of paying subscribers.
Podcasting now reaches 58% of Americans monthly, according to Edison Research, including two out of three people ages 18 to 54.
The Verge, Eater, SB Nation, POPSUGAR, and The Dodo are not part of the transaction. Those brands will form a new independent company led by Ryan Pauley, currently Vox Media’s President. Penske Media Corporation, Vox Media’s principal shareholder, is expected to increase its stake in the remaining entity.
Context and Competition
Vox Media explored a full sale, partial sales, and spin-offs throughout late 2025 and early 2026, according to Semafor. Competing suitor Versant also submitted a bid; Vox Media’s board selected Murdoch’s offer, which included more cash, per The New York Times. Versant CEO Mark Lazarus told Business Insider that Bankoff sought to maximize return on assets beyond the podcast network, including Vox.com and New York Magazine.
The acquired properties join a Lupa Systems portfolio that includes Tribeca Enterprises, which produces the Tribeca Film Festival, and Art Basel. Murdoch founded Lupa Systems in 2019 following the $71 billion sale of 21st Century Fox to Disney.
“I couldn’t be more thrilled to partner with James and Lupa Systems,” Bankoff said in the announcement. “Each one of these Vox Media divisions is marked by its strong relevance with audiences, its commitment to quality, and its enormous growth potential.”
Subscribe to Our Newsletter
Check Out Our Podcast