Over the weekend we wondered who’d pick up the New Republic. Now we have an answer: “A group of private investors which include Laurence Grafstein and Martin Peretz, the magazine’s long-time editor-in-chief.” There’s no word on the price of the deal.
In 2007, Canwest picked up 70% of the magazine for $5 million. We’re thinking that they probably unloaded it for considerably less. Marty Peretz already owned a part of The New Republic, and has controlled the magazine for the past three decades.
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