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Looks like those “advanced talks” between James Murdoch’s Lupa Systems investment company and Vox Media have borne fruit, as the two groups just announced that Lupa has agreed to acquire New York Magazine, the Vox Media Podcast Network, and Vox.
“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 via a release. “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 and popular podcasts such as Pivot with Kara Swisher and Scott Galloway, Criminal, and Where Should We Begin? with Esther Perel.
The deal does not include Eater, Popsugar, SB Nation, The Dodo, or The Verge.
The new Vox Media will be led by Jim Bankoff, who co-founded Vox Media and will be CEO of the new company upon closing. “I couldn’t be more thrilled to partner with James and Lupa Systems,” said Bankoff. “Each one of these Vox Media divisions is marked by its strong relevance with audiences, its commitment to quality, and its enormous growth potential. We are incredibly proud to have built and scaled several of the leading media properties of this generation. Together under Lupa’s stewardship we are primed to be the best home for talent and the most dynamic media company of this new era.”
You can view the original article HERE.
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