James Murdoch lost the succession battle for control of Fox News and The Wall Street Journal to his brother Lachlan, but he walked away with $3.3 billion and a plan to build his own media empire.
His company, Lupa Systems, is in talks to acquire major parts of Vox Media, including New York Magazine and a podcast network featuring Kara Swisher and Scott Galloway, according to The New York Times. The deal would mark a full-circle moment: Rupert Murdoch bought New York Magazine in 1977, sold it in 1991, and now his left-leaning son is buying it back. Vox Media has been weighing a sale for months, with multiple bidders, including Versant Media, in the mix.
From Fox to Vox, the acquisition would make Lupa Systems a major US media player. James already backs Tribeca Film Festival, The 19th, and The Bulwark — a portfolio that’s very different from his father and brother’s conservative empire.
James Murdoch lost the succession battle for control of Fox News and The Wall Street Journal to his brother Lachlan, but he walked away with $3.3 billion and a plan to build his own media empire.
His company, Lupa Systems, is in talks to acquire major parts of Vox Media, including New York Magazine and a podcast network featuring Kara Swisher and Scott Galloway, according to The New York Times. The deal would mark a full-circle moment: Rupert Murdoch bought New York Magazine in 1977, sold it in 1991, and now his left-leaning son is buying it back. Vox Media has been weighing a sale for months, with multiple bidders, including Versant Media, in the mix.
From Fox to Vox, the acquisition would make Lupa Systems a major US media player. James already backs Tribeca Film Festival, The 19th, and The Bulwark — a portfolio that’s very different from his father and brother’s conservative empire.
www.entrepreneur.com
#James #Murdoch #Step #Closer #Building #Empire
