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:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Barack Obama in India

Reuters Showcase

Climate Change

Climate Change

U.S.-China climate deal does not put pressure on India, says Modi  Full Article 

Bangladesh Politics

Bangladesh Politics

Bangladesh charges opposition chief with instigating attack on bus  Full Article 

Ukraine Crisis

Ukraine Crisis

Rebels press Ukraine offensive, Obama promises steps against Russian-backed "aggression"  Full Article 

Australian Open

Australian Open

Sweet revenge for Murray as old guard hold firm   Full Article 

Box Office

Box Office

Eastwood's "American Sniper" continues as U.S. box office juggernaut   Full Article 

Boko Haram Fight

Boko Haram Fight

Nigeria repels suspected Boko Haram attack on Maiduguri city  Full Article 

Movie Review

Movie Review

Dolly ki Doli is a breezy watch, writes Shilpa Jamkhandikar.  Full Article | Related Story 

Akshay Kumar's Latest

Akshay Kumar's Latest

"Baby" is a smartly written, well-acted film  Full Article 

Reuters India Mobile

Reuters India Mobile

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