James Murdoch is set to acquire key units of Vox Media, including New York Magazine.
The deal is expected to be worth over US$300 million (AU$421 mil) and will see the portfolio of the youngest Murdoch son expand considerably, as he takes on around half of the Vox Network.
Beyond New York Magazine, he will acquire the network's podcast network and the political news website Vox.com as well.
The deal is being made via Murdoch's media and technology holding company Lupa Systems.
“This acquisition reflects both our interest in the forward edge of culture and our deep commitment to ambitious journalism,” he said in a statement on Wednesday.
“It will allow us to apply new tools across the businesses we are building, adding substantial production, distribution, and editorial capability to our group.”
