James Murdoch is in advanced talks to acquire New York Magazine and Vox Media's podcast division through his investment firm Lupa Systems, according to people familiar with the matter. The deal would mark his first major media investment since resolving a bitter family succession battle last year, when his 95-year-old father Rupert paid $3.3bn to James, Elisabeth and Prudency to hand control to eldest son Lachlan.

The talks reveal how James Murdoch plans to deploy billions in proceeds from that settlement. New York Magazine generated approximately $100mn in revenue last year, while Vox's podcast business—including popular shows like Pivot hosted by Kara Swisher and Scott Galloway—brought in roughly $60mn. The potential acquisition price remains unclear, though Vox purchased New York Magazine in 2019 for about $105mn.

The deal carries symbolic weight: Rupert Murdoch himself bought New York Magazine in a hostile takeover in 1976. James Murdoch has been building a liberal media portfolio since leaving Fox in 2019 over disagreements with his father's editorial direction, acquiring stakes in Vice Media, Brut and the Tribeca Film Festival. A successful acquisition could combine these assets into a global media and culture organization.