The New Republic has been sold to Win McCormack, the founder and editor-in-chief of Tin House quarterly.
Facebook co-founder Chris Hughes (pictured above) announced the sale on Friday, after putting the magazine on the market last month.
“The New Republic was founded in 1914 as the organ of a modernized liberalism and then-dominant Progressive Movement, and has remained true to its founding principles, under all its multiple owners, ever since,” McCormack said in a statement. “We intend to continue in that same tradition, preserving the journal as an important voice in a new debate over how the basic principles of liberalism can be reworked to meet the equally demanding challenges of our era.”
Hamilton Fish, the former publisher of The Nation, will serve as the magazine’s publisher and editorial director.
“I had many conversations with qualified candidates, and of those I ultimately concluded that Win McCormack and Ham Fish are those stewards,” Hughes said. “Their backgrounds in journalism and progressive politics make them uniquely qualified to lead such a historic institution. I look forward to watching their progress over the years to come.”
Hughes bought the magazine in 2012, which led to multiple staff resignations, including editor-in-chief Franklin Foer, over changes he planned to make to the long-running publication.
For the record: A previous version of this story included an incorrect image from Win McCormack’s website.