James Murdoch to acquire half of Vox Media in deal reportedly worth $300m

Key points

• James Murdoch, second son of publishing giant Rupert Murdoch, has agreed to acquire some of Vox Media’s assets, including New York Magazine, in a deal believed to be worth about $300m.
• The 53-year-old publishing scion is acquiring the assets through his company, Lupa Systems, which has built up holdings in Art Basel, the traveling art fair business, and Tribeca Enterprises, the media and entertainment company co-founded by Robert De Niro, and the Indian streaming service Bodhi Tree Systems.
• In the deal announced on Wednesday, Murdoch will acquire half of Vox Media.
• In a twist of fate that will not be lost on media observers, the title was once owned by the elder Murdoch.
• The younger Murdoch told the New York Times that he was not looking to acquire a “daily news business” but wanted “longer-form, thoughtful journalism that can really speak to the culture”.