James Murdoch, the 53-year-old youngest son of Australian media mogul Rupert Murdoch, has agreed to buy a significant chunk of Vox Media. The deal, valued at more than $300 million, marks a major expansion of Murdoch's media holdings and his presence in US media.
Through this acquisition, Murdoch gains control of New York Magazine, which his father once owned, as well as the Vox news site and the Vox Media Podcast Network.
Other Vox titles are not included in the transaction. Eater, Popsugar, SB Nation, the Dodo, and the Verge will instead make up a second, independent company under a new name.