James Murdoch Buys Vox Media, New York Magazine for $300 Million as He Breaks From Family Empire
Updated
Updated · The New York Times · Jun 5
James Murdoch Buys Vox Media, New York Magazine for $300 Million as He Breaks From Family Empire
1 articles · Updated · The New York Times · Jun 5
Summary
$300 million would give James Murdoch control of New York magazine, Vox.com and Vox Media's podcast network, marking his clearest move yet to build a media business outside his father's orbit.
The deal follows last September's Murdoch family settlement, in which Rupert Murdoch secured Lachlan as heir to Fox News and other conservative outlets while James and two sisters accepted payouts of more than $1 billion each.
James has publicly tied his break with the family empire to objections over climate-change denial and the forces behind the Jan. 6 riot, arguing Rupert Murdoch's outlets spread toxic political content for ratings and revenue.
That makes the acquisition more than a modest media transaction: it positions James behind outlets seen as ideological rivals to the businesses now run by his brother, extending the family split into competing media empires.