• New York Times, Friday, March 9, 2012 2:09 PM

New Republic, the almost-100-year-old magazine that "helped define modern American liberalism," has a new young owner: 28-year-old Chris Hughes, "a new-media guru who co-founded Facebook" and was once Mark Zuckerberg's roommate at Harvard, write Brian Stelter and Michael J. De La Merced.

Terms of the sale were not disclosed, but the sale could be a case of new-media money (and ideas) coming in to rescue a less-than-profitable old-media pub.  As the mag's publisher and editor in chief, Hughes says he will continue its focus on "high-quality long-form journalism," hire more writers and editors, and invest more heavily in tablet distribution.

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