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Vox
The average consumer probably knows Vox Media from several of its properties – New York Magazine, SB Nation, and its most well-known podcasts, such as Pivot, Today Explained, Where Should We Begin with Esther Perel, and The Vergecast.
Vox Media podcasts are primarily known for high-quality explanatory journalism, authoritative voices, and deep-dive storytelling across politics, technology, and culture. They excel at taking complex topics and making them accessible, aiming to provide context and clarity rather than just breaking news.
In the last decade, Vox Media has assembled a candy factory of digital media brands. Group Nine Media (Dec 2021/Feb 2022): Acquired in a major merger that brought brands like Thrillist, The Dodo, NowThis, and Popsugar into the company. New York Media (Sept 2019): Merged to add New York Magazine and its verticals (The Cut, Vulture, Grub Street, The Strategist, Intelligencer). [Epic Magazine (Apr 2019): Acquired to bolster Vox Media Studios. [Recode (2015): Purchased to merge with Vox's technology site, The Verge.
Yet, according to a recent article in AdWeek, “the house of brands, which was assembled through a series of acquisitions since its founding in 2011, now appears poised to disassemble in a similarly incremental fashion.”
Digital Media companies have struggled to survive in an era of, ironically, digital media. For example, according to CrunchBase, Vice Media, once valued at $5.7 billion, filed for Chapter 11 bankruptcy in 2023. Several other prominent digital media and tech-focused companies have gone out of business, filed for bankruptcy, or ceased operations due to changing markets and intense competition. Major examples include Quibi, MTV News, BuzzFeed News, and Gawker.
When Vox sold its gaming brand, Polygon, for approximately $22 million last year, according to Axios, the move marked the end of an era for Vox Media, which has shifted from a strategy of acquiring brands to selling them.
While a valuable brand in the Vox Media portfolio, the magazine's lower profitability stems from high production costs and its customer acquisition costs to sustain its digital subscription growth, which includes approximately 400,000 paying subscribers.
New York Magazine
“Despite its brand strength, Vox and the entire digital media industry faces pressure from declining search traffic and AI,” notes Digital Media Consultant Guy McCombe. “So, the sell-off, layoffs, and restructuring, has begun in earnest. The only question is if Vox will remain an independent digital media company or will the entire company be purchased.”
Presently, Vox Media is actively shopping SB Nation as part of a strategic plan to sell off parts of its portfolio, with potential deals expected as early as June 2026.
Vox spent much of last year shopping the podcast network and other assets to potential buyers — including a full company sale — before informing investors in February that the podcast network was no longer available.
According to Awful Announcing, that strategy didn’t last, as Versant, a company formed from Comcast’s cable TV brands ((CNBC, MSNBC/MS NOW, USA Network, Golf Channel, Oxygen, E!, SYFY) and digital brands (Fandango, Rotten Tomatoes, GolfNow, GolfPass, and SportsEngine), emerged within weeks as one of multiple suitors in talks to acquire the podcast network, which produces around 40 shows, including Sue Bird’s A Touch More, Bird’s Eye View, Not Just Football, and Maria Sharapova’s Pretty Tough.
According to AdWeek, the Vox Media Podcast Network is the one of the most profitable parts of its business, generating around $60–$80 million in annual revenue with more than $20 million in profit, making it a key growth engine and profit driver for the company. It is considered one of the fastest-growing parts of the portfolio. The network boasts such high-profile, profitable shows such as Pivot (Kara Swisher and Scott Galloway) and shows featuring Brené Brown and Esther Perel.
Revenue is driven primarily by advertising, with select shows generating massive individual returns – Pivot brought in roughly $10 million in annual revenue -- and Vox’s podcast network is often used to attract talent by leveraging other Vox Media platforms, such as New York Magazine and its websites, for promotion.
By contrast, New York Magazine generates roughly $100 million in annual revenue but operates with thin profit margins, estimated at around $6 million in profit last year, according to Puck.
The Verge operates within a fiercely competitive digital media market, with estimated annual revenues of around $27.9 million and a focus on diversifying revenue through subscriptions and affiliate partnerships. In late 2024, the publication launched a subscription model to support its journalism against a bruising ad market, indicating a move toward greater profitability.
Eater, a prominent food media brand owned by Vox Media, generates an estimated annual revenue between $5 million and $10 million, and, according to AdWeek, Eater has moved beyond a simple website into a diversified media business that includes branded content, live events, and a recently launched restaurant discovery app.
Recent reporting from The New York Times, Variety, and the Wall Street Journal indicates that James Murdoch, the son of media tycoon Rupert Murdoch and brother to Fox Corp. and News Corp. chairman Lachlan Murdoch, has expressed interest in the Vox Media Podcast Network and the New York Magazine house of brands – which include The Cut, Strategist, Grub Street, Curbed, and Intelligencer. According to CNN, Murdoch’s company Lupa Systems is in talks to acquire the two properties for $300 million or more.
James Murdoch, along with his sisters Prudence MacLeod and Elisabeth Murdoch, challenged an attempt by Rupert and his eldest son, Lachlan, to amend the family trust.
FilmMagic
James Murdoch served as CEO of 21st Century Fox until 2019, broke with his family’s media empire in 2020, resigning from the board of Fox Corp amid disagreements with the editorial bent of the family’s brands.
James Murdoch was a key figure in a major legal battle regarding his father Rupert Murdoch’s irrevocable family trust, which concluded in a settlement in September 2025. In September 2025, a deal was reached wherein James, Elisabeth, and Prudence agreed to cease being beneficiaries of any trust with shares in Fox or News Corp.
James Murdoch has also been a prominent Democratic donor, reflecting deep concern about President Donald Trump’s takeover of the GOP. His politics are considered to be more moderate than his father’s.
“This acquisition, if it goes through, is significant for several reasons,” observes Digital Media Consultant Guy McCombe. “First, podcast networks are now throwing off cash and profits in a way that makes them valuable properties. Second, the dissection of Vox Media challenges the assumption that a digital media company with a roster of brands can survive.”
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