Paul Carr, co-founder of cross-media publishing house, The Friday Project, has today announced that he is leading a buy-out of the company¹s online division, Friday Online. The move will see Carr acquire, for an undisclosed sum, a controlling stake in the division responsible for publications including critically acclaimed satirical ezine, The Friday Thing and the London-based city guide, London by London.

The Friday Project retains a significant stake in the new business and Carr will continue to work closely with the company on all aspects of its web-to-print publishing activities. Friday Books will continue to grow under the direction of Managing Director Clare Christian and Commercial Director, Scott Pack.

Along with Carr, the buyout sees the departure from TFP of Online Editor, Graham Pond, who becomes Editor-in-Chief of the new company. As part of the new venture, Carr has launched his own blog documenting progress made on a new book he and Pond are co-writing about Second Life, the alternate reality sphere.