Chris Hughes, Facebook Co-Founder, Interested In Buying The New Republic

Photo by Doc Searls

NEW YORK -- Facebook co-founder Chris Hughes is a candidate to buy the New Republic, according to sources familiar with the matter. A deal has not yet been reached.

While Hughes has made his fortune in the tech world, the 28-year-old is no stranger to politics. He worked as director of online organizing for President Barack Obama's 2008 campaign. Senior Obama adviser David Plouffe, in a 2009 Fast Company profile, praised Hughes' work, saying that he "saw what was possible before anyone else."

Hughes, reportedly worth around $700 milion, launched social media non-profit Jumo in 2010. Just last month, it was reported that he is also backing a "viral media start-up" with former MoveOn.org executive director Eli Pariser that has not yet been launched.

Founded in 1914, the left-of-center New Republic has long been influential in the political world, if not profitable. Former editor-in-chief and owner Marty Peretz sold the magazine in 2007, only to buy it back along with investors, led by former Lazard executive Laurence Grafstein, in 2009.

On Wednesday, The Huffington Post reported that several reported suitors in the media, including Bloomberg News and New York Observer owner Jared Kushner, were not interested in the magazine.

Hughes did not respond to a request for comment. A New Republic spokesperson declined to comment.

Comments

[sulafineart]

09:51 PM on 01/18/2012

Freakonomics.

[CanadaStan]

08:17 PM on 01/13/2012

Another leftwing money pit?

[pbeat]

03:17 AM on 01/18/2012

yeah, because keeping money in the hands of the rich for the rich by the rich is your definition of America?

[kateslate]

06:41 PM on 01/29/2012

You don't need Facebook in order to survive, so this is a true entrepreneur. If you sell something that people *must have* to live at a bloated price, well, that is extortion. Why do you call it another leftwing money pit? I would like to hear your logic.

[FreddieVee]

04:21 PM on 01/13/2012

I would prefer he buy NewsMax and The Spectator.

FreddieVee

[Smithn]

04:08 PM on 01/13/2012

sorry--wrong story.

[Cynth]

01:25 AM on 01/14/2012

But now I'm intrigued about the story you meant to post to!

[Smithn]

04:07 PM on 01/13/2012

"Ugh! me BushieBrow Neanderthal: Me kill & Piss Unibrow Neanderthal . . ."

[Tony Moschetti]

11:43 AM on 01/13/2012

"Founded in 1914, the left-of-center New Republic has long been influential in the political world, if not profitable." Just like most liberal rags! Newsweek went for a buck. Too expensive! Now I believe it's the "Daily Beastweek!"

I understand the next liberal outlet to go for a buck it going to be Pravda on-line's purchase of the Huffington Post.

[pbeat]

03:18 AM on 01/18/2012

Still playing the commie angle? How McCarthy of you

[Tony Moschetti]

10:35 AM on 01/18/2012

You obviously know very little about McCarthy, only what you get from the left wing lunatics.

Back in the McCarthy days there were even more Communists in or around our government than there are now. He was treated by the liberal media the same way anyone who today points out the many Socialists/Marxists in or advising the government.

You are aware that Van Jones, the president's choice for "green jobs" czar was a commie. He founded STORM. Look it up.

Don't take my word, read what a Pravada online columnist wrote a couple of years ago about our "rapid" descent into Marxism: It's titled: "American capitalism gone with a whimper" http://english.pravda.ru/opinion/columnists/107459-american_capitalism-0

Wake up pal!

[kateslate]

06:42 PM on 01/29/2012

Just because you don't like to put forth the effort to actually READ, and prefer FAUX news, doesn't mean others don't enjoy sitting down with a page to enjoy.

[basta]

11:19 AM on 01/13/2012

I guess the kid wants to be known for more than being a billionaire who still lives at home. Politics may be his undoing.

[sithappens]

11:16 AM on 01/13/2012

young people with too much money.

[kateslate]

06:43 PM on 01/29/2012

Well, the old people with lots of money seem to be out of ideas to fix things....I welcome the youthful energy.

[leewall]

07:45 AM on 01/13/2012

I was thinking about canceling my facebook page. Now I'm convinced that I should. It's turn into another website for every lunatic to rant and rage about their twisted thoughts on politics and their perceived twists on the new world order. The Manson family would have gravitated to facebook.

[panobuz]

08:48 AM on 01/13/2012

Do it, what's stopping you? I bet you won't, you'll just rant and rage.

[jaschrod]

09:35 AM on 01/13/2012

Go ahead, no one cares, but you.

[lOstsOulsrembrd11]

07:39 AM on 01/13/2012

Social networks. Co founder is getting a rag? Well I guess anything to keep their busy processing minds occupied........speaking of HP............LOL

I've noticed something: I have really appreciated (I really mean this sincerely) the sudden rush of 'fanning' I've been getting but something confuses me. The majority of them have been posters with very high fan numbers; like thousands. I've fanned them in the past (I remember them) and they'd decline fanning me back so I spent more quality time responding to stories and trying to articulate better my thoughts/feelings. I first joined HP in 2008 so I'm no stranger to HP. I left out of principal.

So all I'm saying is this: When I get fanned I go to their page and check their comments over the months. If I see a lot of 'fanning' then I usually decline. I am trying to earn my fans by being decent to others whose opinions differ BUT are thoughtful (I fan them sometimes to understand their perspective) or many I fan because their so [darn funny] AND/OR knowledgeable. Most importantly too I fan for those that link up with their comments and that is when I really learn a lot! I read or watch many of them before replying..........

Facebook? HP? Mods=both social media sights..........but HP wins out! LSR

[SonnyBono]

05:26 AM on 01/13/2012

Didn't know "The New Republic" was still in business after the Steven Glass disaster.

[pbeat]

03:22 AM on 01/18/2012

Did you know the New York Times was still in business after the Judith Miller disaster?

[Tickerage]

03:11 AM on 01/13/2012

Yeah, a man with a conscious, and he's worth more than that vulture capitalist Mitt. Doing somthign with a motivation other than pure greed? Unheard of to conservatives.

[Nice Guy]

08:34 AM on 01/13/2012

Ummm, you do realize Mitt and the other "1% ers" give THE majority to our countries charities. You do know that don't you?

[Scott Kenan]

09:35 AM on 01/13/2012

CORRECTION, Heinie-Hole!!! You are probably right about the 1% ers (There are many good ones: Warren Buffett, Ted Turner, my Kenan relatives, etc., but you are WRONG about Mitt GIVING to any REAL charities!!!

See more on the Kenan Family of North Carolina and how we are TAKING DOWN the God-hating, TRAITOROUS, narco-trafficking Republican Party (which we used to support). Index to subjects is a couple of scrolls beneath link to my memoir about working for Tennessee Williams.

http://scottkenan.blogspot.com/2012/01/total-kenan-family-victory.html

Thank you,
Scott

[pbeat]

03:23 AM on 01/18/2012

No I don't. Firing thousands of workers for personal greed. half a billion in Romney's case, doesn't sound very charitable to me.

[manroj1]

02:48 AM on 01/13/2012

I can see a hostile takeover and buyout by the Koch brothers coming soon! It will become another Teabagger propaganda outlet.

[jaredbrain]

01:56 AM on 01/13/2012

Don't put too much blood sweat or tears into it Mr Hughes. Just enough to get AOL to give you a few hundred million, then you can let it all go down hill

[mtrem]

06:13 AM on 01/13/2012

Spoken like a true conservative.....

[leewall]

07:46 AM on 01/13/2012

nice guitar.

[Nice Guy]

08:39 AM on 01/13/2012

AOL has lost a ton of money after merging with HuffPo (oops, the moderators surely won't pass this along). Mr Hughes maybe feels diminished by Zuckerberg? Mr Hughes is a 1% Er by the way!

[wouzzie]

10:36 AM on 01/13/2012

Tell that to TimeWarner shareholders after they c*nned by an AOL takeover deal.

[pbeat]

03:25 AM on 01/18/2012

this comment must have been meant for the moderators since you were sure they wouldn't pass it along because they are surely afraid of your thought process.

[ken vincent]

01:16 AM on 01/13/2012

Face Book is heading in the same direction of My Space.

[iisguy]

02:10 AM on 01/13/2012

The owners of MySpace made huge massive profits. They sold to Murdoch. One of the worst investments of Murdochs career and the end of MySpace effectively

[cgalaxia7]

02:19 AM on 01/13/2012

lol! Oh no! Where will all the social networkies go, will there be another built called: Cricket'n'Chrip Here?