TNR Is Probably Up for Sale

Marty Peretz.
Marty Peretz. Photo: Jemal Countess/WireImage

The owners of the New Republic have retained the services of the Blackstone Group to explore a possible sale, reports The Wall Street Journal.  The property, which has a long and illustrious history of losing money, has already changed hands twice since 2007; the last sale was to a group of investors associated with Martin Peretz (who’d owned-edited it for a long time pre-2007) and who were billed as committed to preserving its intellectual legacy. According to the Journal, TNR would be priced at "less than $20 million." Possibly a lot less. Cheap for a magazine, expensive for a piping-hot potato.

Related: Peretz in Exile