James Murdoch buys Vox Media

James Murdoch's Lupa Systems has agreed to acquire a majority stake in Vox Media, including New York magazine and the Vox news platform.

The deal, reportedly worth over $300 million, marks a major move into the digital media landscape for the son of media mogul Rupert Murdoch.

Under the agreement, Vox Media will retain its editorial independence while utilizing Murdoch's capital to expand its podcasting and video production units.

The acquisition signals James Murdoch's intent to build a liberal-leaning media empire distinct from his father's conservative news outlets.