Via The New York Times:
Jared Kushner, the 25-year-old son of a wealthy New Jersey developer who was sentenced to prison last year, has bought the New York Observer, paying what one person familiar with details of the sale said was nearly $10 million for a majority stake in the weekly newspaper.
Arthur Carter, the current publisher who nearly sold the paper to Robert De Niro‘s Tribeca Film Festival group before the deal broke down, will retain “retaining some interest and will be offering the new owner strategic advice.”
Give senior editor and Off the Record columnist Tom Scocca the quote of the week:
Mr. Scocca also said that Mr. Kushner was not particularly tainted because of his father. “Every pile of money that is enough to buy a newspaper is disturbing if you look closely enough at it,” he said. “But I don’t think he has any reason or need to protect the existing press barons from scrutiny. This is an exciting move.”