From Vanity Fair · Lachlan Cartwright · · 2m
Murdoch Couple Acquire New York Magazine
James and Kathryn Murdoch buy New York magazine for $300m+ to boost media's thoughtful journalism.
In brief
James and Kathryn Murdoch buy New York magazine for $300m+ to boost media's thoughtful journalism. James and Kathryn Murdoch acquired New York magazine for $300m+ through Lupa to support thoughtful long-form journalism amid AI growth. Originally reported by Vanity Fair.
Murdoch Couple Visit New York Magazine
James and Kathryn Murdoch visited New York magazine’s downtown New York office in mid-May after acquiring it for $300m+ through Lupa.
Archival History Highlights
The archive contains 58 years of New York magazine history, including covers from 1977 to 2015.
Vox Media CEO Jim Bankoff
Vox Media CEO Jim Bankoff confirmed the Murdochs’ purchase was not a vanity play but a genuine interest in media.
James Murdoch’s Media Background
James Murdoch was four when his father Rupert bought New York and sold it at eighteen.
James’ Media Involvement
James has never left the media business, citing investments in India including Bodhi Tree Systems.
Murdoch Wealth and Investments
James and Kathryn used Disney’s $71.3 billion Fox acquisition to buy the Tribeca Film Festival and Art Basel.
New York Magazine’s Business Model
New York magazine focuses on thoughtful long-form journalism, not search engine optimization.
AI and Journalism Value
James believes human-written long-form journalism becomes more valuable as AI grows.
AI Experiment Rejection
James sent a disco parody of Lord of the Rings to his family, which they found appalling.
Political Donations
The couple donated to Majority Democrats campaigns for James Talarico, Josh Turek, and Mary Peltola.
Kathryn’s Democracy Concerns
Kathryn says extreme politics harm democracy by making people feel unrepresented.
Murdoch Family Trust Conflict
James stepped down from News Corp board after disputes with his brother and father over family trust.
Tesla and X Ownership
James denies Tesla’s connection to X, stating its goal is renewable energy transition.
Children’s Future Concerns
Kathryn wants to ensure her children grow up in a world where choices now impact their futures.
Rupert Murdoch’s Legacy
James reiterates that profit ensures media independence, but AI-driven attention mechanisms pose risks.
What to remember
James and Kathryn Murdoch acquired New York magazine for $300m+ through Lupa to support thoughtful long-form journalism amid AI growth.
