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On Wednesday, media scion James Murdoch joined the bidding war for Vox Media, which has in recent months signaled its openness to selling parts of its media empire.
Murdoch, the son of media tycoon Rupert Murdoch and brother to Fox Corp. and News Corp. chairman Lachlan Murdoch, expressed interest specifically in the Vox Media Podcast Network and the New York Magazine house of brands, which include The Cut, Strategist, Grub Street, Curbed, and Intelligencer. According to CNN, Murdoch’s company Lupa Systems is in talks to acquire the two properties for $300 million or more.
James, unlike his brother and father, has championed left-wing causes, splitting with his family over their politics and pocketing a cool $1.1 billion in exchange for removing himself from the family trust.
As I have covered previously, the Vox Media Podcast Network is one of the most profitable and fastest-growing elements of the Vox Media portfolio. Initial reports pegged the house of podcast brands as generating $60 million in revenue, although The New York Times on Wednesday put the number closer to $80 million.
