Vox Media Sells Podcast Business and Publishing Brands to James Murdoch’s Lupa Systems Vox Media has announced an agreement to sell its podcast business and several publishing brands to James Murdoch’s investment firm, Lupa Systems. The deal, which was disclosed on Wednesday, marks a significant shift in the digital media landscape as Vox Media seeks to restructure its operations and focus on its remaining assets. The transaction includes the acquisition of New York Magazine, the Vox Media Podcast Network, and the news site Vox, which will operate as a subsidiary of Lupa Systems. Additionally, Lupa Systems will inherit other brands such as Grub Street, Intelligencer, The Cut, and Vulture through the New York Magazine publishing group. The sale is part of a broader strategy by Vox Media to divest parts of its business in order to maximize shareholder value. The company has been exploring options to sell its assets incrementally rather than as a single entity, a move that aligns with the industry’s trend of fragmentation and consolidation. The deal is valued at approximately $300 million, though specific terms were not disclosed. Axios reported that the transaction could potentially increase Penske Media Corporation’s stake in Vox Media’s remaining assets, which include brands like Eater, Popsugar, SB Nation, The Dodo, and The Verge. However, the company has not outlined a clear plan for managing these remaining properties. The acquisition comes after a series of strategic moves by Vox Media, including the sale of the gaming site Polygon in May 2023 and the spin-off of NowThis, a digital publisher acquired in the Group Nine Media deal.#vox_media #the_cut #james_murdoch #lupa_systems #new_york_magazine
