Chris Hughes Purchases New Republic
Facebook co-founder and APB speaker Chris Hughes purchased reputed political magazine The New Republic.
The 28-year-old entrepreneur said he intends on updating the magazine's web and mobile presence on tablet computers such as the iPad. In a time in which many news outlets prefer broadcasting abbreviated and aggregated news, Hughes seeks to revitalize long-form journalism.
"It seems that today too many media institutions chase superficial metrics of online virality at the expense of investing in rigorous reporting and analysis of the most important stories of our time," he said. "When few people are investing in media institutions with such bold aims as 'enlightenment to the problems of the nation,' I believe we must."
As the owner of a majority stake in the magazine, Hughes will assume the title of publisher and editor-in-chief. Richard Just will remain the editor.