James Murdoch's investment firm Lupa Systems is in talks to acquire significant portions of Vox Media, according to reports from multiple sources familiar with the discussions.

The potential deal would include Vox Media's New York Magazine and podcast division, though negotiations have not been finalized. Vox Media generates more than $80 million annually through its podcast operations alone, making it a valuable asset in the digital media landscape.

Murdoch, son of media mogul Rupert Murdoch, established Lupa Systems as his investment vehicle after departing from News Corp's board in 2020. The firm focuses on investments in media, technology, and information services companies.

A successful acquisition would significantly expand Lupa Systems' presence in the U.S. media market. Vox Media operates several prominent digital brands and has built a substantial podcast network that has become increasingly profitable in recent years.

The discussions come as traditional media companies continue to navigate changing consumer habits and advertising markets. Digital media companies like Vox have been exploring various strategic options, including potential sales or partnerships, to strengthen their financial positions.