Vox Media sells its podcast network to Murdoch-owned group

We learn from a publicized announcement by Vox Media CEO Jim Bankoff that Vox Media is splitting into two independent companies. One of them will result from an acquisition spinoff of The Vox Media Podcast Network, New York Magazine, and the Vox website. The acquiring company is James Murdoch’s media/tech holding company Lupa Systems. CEO Jim Bankoff follows those companies and will remain the new group’s chief executive.

We receive this news via a posted letter from Bankoff to company staff this morning. (It is HERE.)

Bankoff observes that three spun-off properties, as a group, form “a business that has become our fastest growing over the past five years.”

“While it hasn’t always been easy, our work has always been meaningful and essential,” Bankoff stated. “We have always adapted and led the way, and I believe authoritative work from trusted brands and talent is more necessary than ever.”