James Murdoch in talks for New York magazine, podcasts

Summary

James Murdoch was in advanced talks to buy New York magazine and Vox podcasts for about $300 million, people familiar said.

Why this matters

The talks point to continued investor interest in podcasting and digital media assets as audiences grow. A deal would also expand James Murdoch’s media holdings through Lupa Systems.

James Murdoch was in advanced talks to acquire New York magazine and several podcasts from Vox Media, according to people familiar with the discussions.

Murdoch, the youngest son of Rupert Murdoch, sold the last of his share of the family’s interest in News Corp. and Fox Corp. last year in an agreement with his father and siblings.

His private holding company, Lupa Systems, has invested in media and pop culture-related businesses, including a streaming service in India and the parent company of the Art Basel fairs. Earlier this year, he said he planned to launch a new ideas expo in Switzerland.

Podcasts have drawn interest from private equity firms and traditional media companies as audiences have grown. Netflix recently began adding video podcasts to its streaming service.

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