With bigger fish to fry — a fish the size of the United States of America — Jared Kushner is hoping to sell the New York Observer, the weekly newspaper he bought a decade ago, according to Women’s Wear Daily, which first reported the news on Wednesday.
A sale would allow Kushner to focus on his new role as strategic advisor and communications impresario for his father-in-law, president-elect Donald Trump.
The list of potential suitors includes American Media Inc., which publishes the National Enquirer; AMI CEO David Pecker has long been a close confidant and supporter of Trump.
Kushner bought the New York Observer in 2006 for $10 million, but WWD’s sources couldn’t confirm a new asking price. Whatever the sum, it would likely be small potatoes for Kushner, who is rumored to be worth $200 million himself; his family’s total net worth is around $1.8 billion. Then, of course, there’s his wife Ivanka Trump, who is said to be worth around $150 million independently of her husband and father.
Kushner’s powerful new political position is the logical continuation of his central role in Trump’s successful insurgent presidential campaign, when the real-estate mogul and reality TV star relied heavily on his children and son-in-law for guidance.
According to press reports, their candor sometimes included unvarnished criticism that few outside the inner circle would dare deliver to the notoriously temperamental candidate.
Following Trump’s victory, Kushner is presumed to be a key player in the opaque power struggles surrounding Trump’s planned cabinet appointments.The reports that NYO is up for sale follow closely on news the newspaper would shut down its weekly print edition after nearly 30 years in print. The newspaper will continue to publish online. “New York” will be dropped from the title to reflect this shift and to match the name of the Web site, which rebranded as Observer.com in 2015.