James Murdoch's Lupa Systems has agreed to buy New York magazine, the Vox news site, and Vox Media's podcast division in a deal that reshapes the ownership of several high-profile media brands. Vox Media and Lupa announced the transaction on Wednesday, though no financial terms were disclosed.

The Wall Street Journal first reported earlier this month that Murdoch was negotiating the acquisition through Lupa Systems. Vox Media CEO Jim Bankoff told staff the deal is expected to close in four to six weeks, giving the company a clear path to exit those properties.

The sale strips Vox Media of recognizable names that have driven its brand identity for years. For Murdoch, it's a meaningful expansion of Lupa's portfolio into established print and digital media assets without revealing what he paid.