Lupa Systems, James Murdoch’s media and technology holding company, has announced the completion of its acquisition of New York Magazine, the Vox Media Podcast Network, and Vox. Initially announced in May, the transaction has now closed, and the three divisions will operate as a new subsidiary of Lupa Systems under the Vox Media name.
Jim Bankoff, who co-founded Vox Media and has led its growth from its early days as a network of grassroots sports blogs and will serve as CEO of the new company.
“Today marks the beginning of a new chapter for these exceptional brands and the extraordinary people behind them,” said James Murdoch, founder of Lupa Systems, in a press release. “Vox Media joins our existing holdings and investments in news and culture. We look forward to providing the magazine, podcast network, and Vox with the resources and partnership they need to do their best work yet.”
“Authoritative work from trusted brands and talent is more necessary than ever,” said Jim Bankoff in that same press release. “James and Kathryn Murdoch understand that, have a demonstrated commitment to high-quality, independent journalism, and are deeply invested in the long-term success of this new company. This is an empowering moment to further focus our efforts and unlock new opportunities for growth.”
What is the new lineup?
This announcement officially splits Vox into two companies. Let’s focus on what remains. In an internal communications in late Vox CEO Jim Bankoff explained, “Eater, Popsugar, SB Nation, The Dodo, and The Verge are each in a strong place as distinct brands, and we have no plans to separate them. Each will continue under its current leadership, and Ryan Pauley will keep working closely with those leaders to deliver on every brand’s individual strategy. We have made real progress building a brand-led business, including a commercial structure designed to support each brand’s unique opportunity.”
Gastropod defines itself as a podcast about the science and history of food. It has aired since 2014 and is hosted by journalists Nicola Twilley and Cynthia Graber. They interview chefs, scientists, and historians to collect stories about the science and history of food.
Gastropod
While Vox maintains that the sale was to “maximize shareholder value,” you have to wonder if this just rearranging the deck chairs on the Titanic. Let’s find a comparable recent deal in media. In May, Comcast spunoff the majority of its NBCUniversal cable network portfolio –named Versant – which will now own cable networks including USA, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel. It will also house digital assets Fandango, Rotten Tomatoes, GolfNow, GolfPass and SportsEngine. These cable channel assets, while still throwing off cash, are declining its value and relevance.
The new Vox Media is home to three of the most distinctive assets in American media. New York Magazine, founded in 1968, publishes the iconic biweekly print magazine alongside six thriving digital verticals—Intelligencer, The Cut, Vulture, The Strategist, Curbed, and Grub Street—that collectively drive the national conversation across politics, culture, style, and more. Under editor-in-chief David Haskell, the magazine has been widely recognized for its powerful and distinctive journalism–winning the 2026 National Magazine Award for General Excellence, the industry’s highest honor, along with the 2026 George Polk Award for Photojournalism.
The Vox Media Podcast Network, under the leadership of Ray Chao, general manager, and Nishat Kurwa, executive producer, has grown into a portfolio of nearly 50 leading shows and reaches an audience of tens of millions across audio, video, and social platforms—including Pivot with Kara Swisher and Scott Galloway, Criminal, and Where Should We Begin? with Esther Perel. Recently announced or launched podcast partnerships with influential hosts include Happy Hour with Ina Garten, Pretty Tough with Maria Sharapova, The Curiosity Shop with Brené Brown and Adam Grant, and many more. The podcast network has also amassed a growing presence in live events, with nearly 50 live shows from across its portfolio in 2025 and more expected in 2026.
Vox brings a YouTube channel with close to 13 million subscribers and a membership program in the tens of thousands. The podcast network has nearly 50 shows including Pivot, Criminal, Where Should We Begin?, Today, Explained, Unexplainable, The Gray Area and America, Actually. Vox says the network has grown faster than its other businesses and reaches tens of millions of people across audio, video, social media and live events.
Vox
Vox, under the leadership of editor-in-chief Swati Sharma, has grown a membership program with tens of thousands of paying subscribers, a thriving YouTube channel and podcasts including Unexplainable, The Gray Area, and America, Actually.
The Vox Media Podcast Network is one of the largest U.S. podcast publishers, home to some of the most popular and influential shows. Reaching a monthly audience of tens of millions across audio, video, and social platforms, its podcasts spark conversations, frame issues, and define the popular zeitgeist across politics, technology, business, sports, entertainment, and more.
What exactly is a Lupa?
Lupa Systems, founded by James Murdoch in March 2019, is a private holding company with locations in New York and Mumbai. Lupa’s portfolio includes MCH Group (Art Basel), Tribeca Enterprises, and a material stake in JioStar through Bodhi Tree Systems.
James Murdoch is the son of media tycoon Rupert Murdoch and brother to Fox Corp.
James Murdoch was a key figure in a major legal battle regarding his father Rupert Murdoch’s irrevocable family trust, which concluded in a settlement in September 2025. In September 2025, a deal was reached wherein James, Elisabeth, and Prudence agreed to cease being beneficiaries of any trust with shares in Fox or News Corp.
FilmMagic
James Murdoch served as CEO of 21st Century Fox until 2019, broke with his family’s media empire in 2020, resigning from the board of Fox Corp amid disagreements with the editorial bent of the family’s brands.
James Murdoch has also been a prominent Democratic donor, reflecting deep concern about President Donald Trump’s takeover of the GOP. His politics are considered to be more moderate than his father’s.
In many ways, a Vox podcast is a branded podcast, much like NPR podcasts. The podcast entities are alike in numerous ways. Both NPR and Vox podcasts help the audience make sense of what really matters. From catching up on the most important news stories of the day to grappling with important discussions between deep thinkers to sparking curiosity about scientific mysteries, Vox and NPR podcasts offer an array of entry points to deeper understanding.
It remains to be seen how both companies navigate their new aggregated structures in the next year. The new, slimmed-down Vox gains sharper focus, and a targeted audience. Lupa Systems gets a magazine and podcast network than attracts millions of consumers, most of them much higher on the median income scale.
“Now that this acquisition has been completed, it’s significant for several reasons,” observes Digital Media Consultant Guy McCombe. “First, podcast networks are now throwing off cash and profits in a way that makes them valuable properties. Second, the dissection of Vox Media challenges the assumption that a digital media company with a roster of brands can survive.”