James Murdoch, the son of tycoon Rupert Murdoch, is angling to become a media magnate of his own after a report reveals new happenings on the business front. According to the report, James Murdoch, a co-founder of famed Hip-Hop label Rawkus Records, is nearing a deal to acquire New York magazine and Vox Media podcast assets.
With the scoop originally going to The Wall Street Journal, Deadline added that James Murdoch, 53, and his Lupa Systems company are nearing a deal to take over New York’s magazine and digital operations. Vox Media first acquired New York magazine in 2019, and the publication is reportedly valued at $105 million.
Vox Media also owns the Pivot podcast with Kara Swisher and Scott Galloway, The Verge, Eater, and SB Nation. Lupa Systems is Murdoch’s investment firm, which has several assets its acquired over time, including Tribeca Festival parent company Tribeca Enterprises and MCH Group, which oversees Art Basel.
If the deal goes as hoped, New York magazine will land back in the hands of the Murdoch media empire since 1991, when Rupert Murdoch’s News Corp split with the publication.
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