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Sold! Peretz Buys Back The New Republic

newrpungg.pngMichael Calderone at Politico has confirmed last week’s rumor that former New Republic owner Marty Peretz will be buying back the magazine from struggling CanWest. And it turns out Paul Waldman at The Daily Beast wasn’t so far off when he threw Laurence Grafstein‘s name into the mix — the Lazard executive will be leading a the group of investors.

Peretz tells Calderone the deal is underway and an official announcement will be made later today: “Something is happening today that I am very happy about…There is a group of us that are acquiring the New Republic from CanWest.” Peretz also confirms that editorially the paper will continue as is.

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