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

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

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.

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http://www.huffingtonpost.com/2012/01/12/facebook-chris-hughes-new-republic-sale_n_1202853.html