James Murdoch’s Lupa Systems is reportedly in talks to acquire significant chunks of Vox Media.
Murdoch’s offer was around US$300 million (AU$415 million), according to a report in Bloomberg, which cited two people with knowledge of the discussions.
The sources said there is no deal in place at the moment and the assets could sell for much more.
Vox Media’s titles include New York Magazine, The Verge, Vulture and more. It also runs a significant podcast network with hosts including Scott Galloway and tech journalist Kara Swisher.
Vox Media has been mulling a sale of all or parts of its business. Businesses including media company Versant have also been interested in acquiring all or some of the business. It is still possible that Vox Media will sell to another acquirer, take on investment or decide not to sell.
Lupa Systems currently has a majority stake in Tribeca Enterprises, the parent company of the Tribeca Film Festival, and it has financially backed Bodhi Tree Systems, one of India’s biggest media investors.
Vox Media remains one of the last privately owned digital publishing businesses that gained traction during the digital media boom of the 2010s.
Jim Bankoff, Vox Media’s chief executive, grew the company from a sports blog, SB Nation, to its current position through a series of acquisitions including New York magazine, The Dodo and Recode.
Quadrivium, the foundation that Murdoch founded with his wife, Kathryn, has backed The 19th, a nonprofit newsroom focused on gender and politics, and The Bulwark, a so-called “Never Trump” digital media company.
A potential deal for Vox Media would make James a decently sized player in the US media industry, though obviously still some way behind his father, Rupert.
James has had cash lying around since the sale of parts of his family’s media business to Disney and a $3.3 billion settlement with his family that secured control of the family’s trust, which includes Fox News and The Wall Street Journal, in the hands of his father and his brother, Lachlan.
