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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

New Windows

Reuters Showcase

Netflix Deal

Netflix Deal

Netflix 'Crouching Tiger' deal incurs wrath of theater chains.  Full Article 

PayPal Spinoff

PayPal Spinoff

EBay follows Icahn's advice, plans PayPal spinoff in 2015.  Full Article 

Oracle Convention

Oracle Convention

Larry Ellison still the top draw at Oracle's mega-convention  Full Article 

iPhone 6 in China

iPhone 6 in China

With iPhone 6 approved in China, Apple suppliers ready for demand.  Full Article 

Tax Rules

Tax Rules

EU says Ireland swapped Apple tax deal for jobs.  Full Article 

Music Services

Music Services

Google searches for right note in online music business.  Full Article 

E-Commerce Dispute

E-Commerce Dispute

Amazon, Disney appear close to settling dispute over movies - WSJ.  Full Article 

Reuters India Mobile

Reuters India Mobile

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