James Murdoch, the youngest son of conservative media mogul and Fox News founder Rupert Murdoch, is building his own media empire.
Murdoch is acquiring New York Magazine, Vox.com and the Vox Media Podcast Network in a $300 million deal with Vox Media, his company, Lupa Systems, announced on Wednesday.
Murdoch had a public split from his father and his media conglomerate — which includes Fox News, The Wall Street Journal and more — over ideological differences. James and his wife, Kathryn, donated more than a million dollars to former President Joe Biden’s campaign for the White House in 2020. He believes in climate change and slammed conservative media outlets in the wake of the January 6 Capitol riot just before Biden took office.
In buying the liberal-leaning Vox, he is now set to have an ideological competitor to News Corp.
“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,” Murdoch said in a statement.
Before acquiring Vox, Murdoch served as CEO of 21st Century Fox. He left News Corp in 2020.
Vox Media capitalized on a digital media boom to reach audiences and influence politics during the Obama years, led by media personalities including Ezra Klein, Matthew Yglesias and Melissa Bell. But its financial might has waned in recent years.
The company’s cofounder, Jim Bankoff, will stay on as CEO of the three properties acquired by Murdoch.
“We are incredibly proud to have built and scaled several of the leading media properties of this generation,” Bankoff said in a statement. “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.”