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Peretz Buys Back TNR

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.

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