The Powers That Be: Daily Media Monday: Murdoch’s Vox Thesis & An NFL Surprise
May 11, 2026
They unpack James Murdoch’s surprising bid for Vox Media assets and which pieces are most valuable. They debate how those outlets might be run and whether the cultural fit makes sense. Then they pivot to the NFL selling games to streamers, why Netflix won key matchups, and what that means for broadcast partners and international scheduling.
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Murdoch's Targeted Play For Vox Assets
- James Murdoch is buying Vox Media's highest-value pieces as a bet on profitable niches rather than the whole failed Web 2.0 vision.
- The deal centers on New York Magazine and a $60M podcast business generating ~$20M EBITDA built around a few flagship shows like Kara Swisher and Scott Galloway.
Vox Evolved From Web Vision To Asset Portfolio
- Vox's original web-first businesses have become distressed and the company sold off legacy magazine and audio assets instead of the whole original stack.
- Vox raised huge capital, bought New York for ~$100M, took on Dodo and other revenue plays that diluted focus and strained finances.
Hire A Steward Instead Of Immediate Cuts
- Run acquired media brands with measured stewardship rather than dramatic cuts to preserve value.
- Jon Kelly expects Murdoch will hire a CEO to boost New York's profitability and scale the podcast business slowly.