A New Sugar Daddy for 'The New Republic'

Chris Hughes says he's committed to magazine's legacy

The New Republic is about to get a new owner, The New York Times reported, and it’s the best kind the influential but unprofitable title could hope for: a well-connected proprieter with a deep interest in supporting long-form journalism—and plenty of money to do so. Chris Hughes is a 28-year-old who was one of the people who founded Facebook. He went on to make a fortune in the tech world and is reportedly worth $700 million.