Vox Media is breaking itself in two.
On Wednesday, the digital publisher announced that James Murdoch’s media and technology holding company, Lupa Systems, has agreed to acquire three of its divisions—New York Magazine, the Vox Media Podcast Network, and Vox—and is folding them into a new, independent company that will carry the Vox Media name.
Chief executive Jim Bankoff will lead that business once the transaction closes, which the company expects to happen within four to six weeks.
The brands left behind—Eater, Popsugar, SB Nation, The Dodo, and The Verge—will be spun into a second independent company under a still-to-be-determined name.
