Fox News founder Rupert Murdoch’s son, whom he cut out of his own right-wing media empire, has acquired roughly half of Vox Media in a deal reportedly worth more than $300 million.
The acquisition will include all of Vox Media’s podcast network, Vox.com, and New York magazine, reports The New York Times, which first revealed the shock purchase on Wednesday.
James Murdoch, 53, told the paper he was not looking to acquire a “daily news business” but wanted “longer-form, thoughtful journalism that can really speak to the culture.”
James has publicly been at odds with his father since resigning from the News Corp board in 2020 and losing a power struggle with his older brother, Lachlan, whose right-wing politics are more in line with those of the family’s 95-year-old patriarch.
Rupert, who also owns the right-wing Wall Street Journal and New York Post, is staunchly conservative but has also clashed with President Donald Trump during his second term.
James and his wife, Kathryn, are investors in The Bulwark, a news site founded by never-Trump Republicans. He has criticized his father’s companies for knowingly “lying” to their audience and spreading crackpot right-wing conspiracy theories.
James donated $20 million to Joe Biden and groups supporting him in 2020. That same year, he told The New York Times that he had been arguing with his father about politics “since I was a teenager.”
Many of the entities included in the Vox Media sale are widely considered left-leaning. New York magazine was previously owned by Rupert Murdoch, but his youngest son tells the Times that his father’s previous ownership of the magazine did not hold any special significance to him.
“I’m just trying to build a great business,” he said.
James’s purchase was completed through his company, Lupa Systems, which has not disclosed the amount it paid. However, people familiar with the matter tell the Times that the purchase price is north of $300 million and that the deal will be completed in the coming weeks.
There is no definitive source for the younger Murdoch’s net worth, but he received a $1.4 billion settlement from his father during his messy exit from News Corp.
Vox Media did not immediately respond to a request for comment.
James tells the Times he hopes his new media entities will collaborate with those already under the umbrella of Lupa Systems, including the parent company of Tribeca Film Festival, the owner of Art Basel, and Bodhi Tree Systems, which backs a top streaming service in India.
Among the Vox Media entities not included in the sale are The Verge, Eater, and SB Nation, according to the Times.
“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,” James said in a statement.
