We recently told you Marty Peretz, the former owner of the New Republic, was interested in buying the magazine back. It is confirmed by Politico this morning that Peretz and a group of investors will, in fact, do so.
Peretz tells Politico, “Something is happening today that I am very happy about… There is a group of us that are acquiring the New Republic from CanWest.” Editorially, Peretz said TNR will continue as it has in the past. Peretz will remain editor-in-chief, with Frank Foer as editor.
Canadian CanWest purchased the magazine in 2007 and is now teetering on bankruptcy. We’ll have an official statement from Peretz later today.