Chris Huges, the co-founder of Facebook, is interested in buying progressive magazine the New Republic. As of yet no deal has been accepted.
Huges has been primarily involved in the High Tech world having been involved in Facebook and a few other start-ups. Politics has also been his calling. In 2008 he was Director of Online Organizing for President Obama’s 2008 Campaign. David Palouffe, who has been a senior adviser to President Obama said about Huges,
“He saw what was possible before anyone else.”
Huges, who is gay, is engaged to Sean Eldridge, Political Director of Freedom to Marry making politics a family affair.
Huges is worth approximately $700 million dollars. He was involved with the Social Media non-profit Jumo. He is also involved with a few other star-ups at the moment. Huges was a co-founder of Facebook with Harvard roomate Mark Zuckerberg and Edwardo Saverin.
Founded in 1914, the New Republic is one of the more influential magazines among left wing political circles. The issue with the magazine is that they have never really been a profitable venture.
On Wednesday, The Huffington Post reported that several reported suitors in the media, including Bloomberg News and New York Observer owner Jared Kushner, had lost any interest they had in purchasing the magazine.
Neither Huges nor the The New Republic were available for comment to the Huffington Post.
Do you read the New Republic? Do you think the Co-Founder of Facebook could turn it around?