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Politico Buys Capital New York; Business Insider Fires CTO
September 10, 2013 Robert Allbritton, owner of Politico, buys Capital New York in an attempt to expand into Gotham. The infusion of cash means the publication founded by Tom McGeveran and Josh Benson will hire additional editorial staffers -- upwards of 20, in fact. They will focus on media and politics at first but expand elsewhere as well. The site currently has just four full-time reporters. It has been operating at a loss with less than 200,000 uniques a month but the D.C. crew is confident that number will grow quickly with investment. Politico's Jim VandeHei takes over as president of Capital NY,...
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