Lupa Systems in Advanced Talks for New York Magazine, Vox Podcasts

James Murdoch's investment firm, Lupa Systems, is in advanced talks to acquire New York magazine and Vox Media's podcast network, according to people familiar with the discussions.

The potential deal, first reported by The Wall Street Journal, values the assets at approximately $300 million or more, one source said. No agreement has been finalized, and the talks could fall apart. Vox Media has been exploring sales of parts of its portfolio amid challenges in the digital media industry. A representative for Vox Media declined to comment, as did a spokesperson for Lupa Systems.

New York magazine, owned by Vox since 2019, includes its flagship print publication and digital sites such as The Cut, Vulture and Intelligencer. The podcast network features shows including Pivot, hosted by Kara Swisher and Scott Galloway, and Today, Explained. Earlier this year, Versant, a cable company spun off from NBCUniversal, expressed interest in the podcasts but those discussions ended.

James Murdoch, 53, the youngest son of media executive Rupert Murdoch, founded Lupa Systems in 2019 after serving as CEO of 21st Century Fox until its assets were largely sold to Disney. Lupa has invested in Tribeca...