Facebook co-founder buys New Republic magazine

Fri Mar 9, 2012 9:22pm IST

Chris Hughes, co-founder of Facebook, listens to a question at the Charles Schwab IMPACT 2010 conference in Boston, Massachusetts October 28, 2010. REUTERS/Adam Hunger/Files

Chris Hughes, co-founder of Facebook, listens to a question at the Charles Schwab IMPACT 2010 conference in Boston, Massachusetts October 28, 2010.

Credit: Reuters/Adam Hunger/Files

Related Topics

REUTERS - Chris Hughes, one of the co-founders of Facebook and a former online strategist for Barack Obama during the 2008 presidential campaign, has purchased a majority stake in The New Republic, the magazine said on Friday.

Hughes, 28, will become publisher and editor-in-chief of the nearly 100-year old magazine which covers American politics.

He is also expected to apply his expertise in digital technology in his new role.

The New Republic currently publishes a daily Web magazine. The New Republic did not disclose the financial terms of the transaction or the exact size of the stake.

Hughes co-founded Facebook in 2004 at Harvard with his then- roommates Facebook Chief Executive Mark Zuckerberg and Dustin Moskovitz.

Since working on the Obama campaign Hughes founded Jumo.com in 2010, a non-profit site that aimed to help people find ways to help each other. It was later combined with GOOD in 2011, an online content and social engagement platform.

As well as his new role Hughes will continue to invest independently and work with non-profits like the Knight Foundation.

(Reporting By Yinka Adegoke, editing by Dave Zimmerman)

FILED UNDER:

Tech Wrap

Reuters Showcase

Sahara Saga

Sahara Saga

Some staff say Sahara has not paid salaries for months   Read 

Killer Unmasked

Killer Unmasked

'Jihadi John' killer from Islamic State beheading videos unmasked as Londoner.  Full Article | Video 

Economic Survey

Economic Survey

India in "sweet spot" of lower deficits, more growth - Economic Survey.  Full Article 

Movie Review

Movie Review

"Ab Tak Chhappan 2" is a futile film: Shilpa Jamkhandikar  Full Article 

DLF Penalty

DLF Penalty

DLF says reviewing $8.4 million SEBI penalty.  Full Article 

Fresh Charges

Fresh Charges

Canadian woman accuses Bikram yoga founder of sexual assault.  Full Article 

Maid Abuse Case

Maid Abuse Case

Hong Kong woman jailed for six years for abusing Indonesian maid.  Full Article 

World Cup 2015

World Cup 2015

Full coverage of cricket world cup in Australia and New Zealand.  Full Coverage 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage