Despite reports to the contrary, the New Republic’s principal owner insists that the 98-year-old journal of liberal political opinion, reporting and arts criticism isn’t shopping for a new owner.
“There’s nothing there to the story,” e-mailed Martin Peretz in response to questions about published reports that the magazine he has owned or edited since 1974 is seeking new investors or an outright sale.
Citing unidentified sources, the New York Times and the Wall Street Journal reported this week that the investor group that owns the magazine and its Web site was considering selling them. Both publications said the group had enlisted the Blackstone Group to help in a sale or “strategic” partnership.
Peretz denied it but did not respond to follow-up questions.
TNR, as it is known, is owned by a group headed by Peretz, a former Harvard professor who first bought control of the magazine 38 years ago. He sold a majority stake to CanWest Global Communications of Canada in 2007 but bought back his interest with other investors, including investment banker Laurence Grafstein, two years later. He is editor emeritus, having given up his editor in chief title in 2010.