Vox Media Explores Sale of Podcast Network and New York Magazine Brands

Vox Media is actively shopping its SB Nation sports network as part of a plan to sell selected assets, with potential deals expected as early as June 2026. The company spent much of last year seeking buyers for its podcast network and other properties, including exploring a full company sale.

It informed investors in February that the podcast network was no longer for sale. Talks have since resumed with multiple suitors, including Versant, a company formed from Comcast cable and digital brands. The Vox Media Podcast Network produces around 40 shows and is one of the most profitable parts of the business.

It generates between $60 million and $80 million in annual revenue and more than $20 million in profit. Advertising drives most revenue, with the show Pivot alone bringing in roughly $10 million a year.

Magazine and its verticals, including The Cut, Vulture, Grub Street, The Strategist and Intelligencer, generate roughly $100 million in annual revenue but recorded an estimated $6 million in profit last year. The Verge brings in an estimated $27.9 million a year and launched a subscription model in late 2024 to offset advertising weakness.

Eater produces between $5 million and $10 million annually and has expanded into branded content, live events and a restaurant discovery app. Vox Media assembled much of its current portfolio through acquisitions. These included New York Media in September 2019, Group Nine Media in December 2021 and February 2022, Recode in 2015, and Epic Magazine in April 2019.

The company sold its gaming brand Polygon for approximately $22 million last year.

Murdoch's company Lupa Systems is in talks to acquire the Vox Media Podcast Network and the New York Magazine group of brands for $300 million or more. Recent reporting from The New York Times, Variety and the Wall Street Journal first indicated his interest.

CNN reported the potential deal value. James Murdoch served as CEO of 21st Century Fox until 2019. He resigned from the board of Fox Corp. in 2020. He was involved in a legal battle over his father Rupert Murdoch’s family trust that settled in September 2025, after which he, his sisters Elisabeth Murdoch and Prudence MacLeod, agreed to cease being beneficiaries of any trust holding shares in Fox or News Corp.

A digital media consultant said the potential transaction, if completed, would highlight that podcast networks are generating significant cash and profits. The consultant added that the sale of parts of Vox Media challenges the idea that a company built around a collection of digital brands can survive long term.

Digital media companies have faced financial pressure from declining search traffic, competition and the rise of artificial intelligence tools. Vice Media, once valued at $5.7 billion, filed for Chapter 11 bankruptcy in 2023. Other outlets including BuzzFeed News, Gawker, Quibi and MTV News have shut down, filed for bankruptcy or ceased operations.