James Murdoch's Lupa Systems nears deal to reclaim New York magazine
James Murdoch’s investment firm, Lupa Systems, is in advanced talks to buy New York magazine and its podcast assets from Vox Media. The potential deal would mark the publication’s return to the Murdoch family after more than three decades. Negotiations were first reported by The Wall Street Journal. Vox Media purchased New York magazine in 2019 for $105 million. Since then, the publication has thrived thanks to its digital brands, including The Cut and Vulture. The magazine’s portfolio also includes podcasts like Pivot, alongside other Vox Media properties such as The Verge, Eater, and SB Nation.
Lupa Systems was founded by James Murdoch in 2019 after his departure from 21st Century Fox. The firm has previously invested in media and entertainment, acquiring stakes in Tribeca Enterprises and the Swiss events company MCH Group. If completed, this deal would reunite New York magazine with the Murdoch family, which last owned it in 1991. The Murdoch family’s history with the publication dates back to the 1970s. Rupert Murdoch’s acquisition of New York magazine, along with the *New York Post*, helped establish his presence in the U.S. media market at the time.
The acquisition would expand Lupa Systems’ media holdings while bringing New York magazine back under Murdoch ownership. The deal remains under negotiation, with no official confirmation yet from either party. Vox Media’s broader portfolio, including its digital and audio brands, would continue operating separately.
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