Facebook co-founder sells The New Republic

The New Republic has found a buyer.

Win McCormack, publisher and editor in chief of Tin House magazine, purchased the magazine from Chris Hughes, The New Republic said Friday. Financial terms weren’t disclosed.

Hughes, a Facebook co-founder who bought a majority stake in The New Republic in 2012, has overseen turbulent times at the century-old publication that covers U.S. politics, foreign policy and culture. Hughes put the magazine up for sale in January.

McCormack said he intends to preserve The New Republic as an “important voice in a new debate over how the basic principles of liberalism can be reworked to meet the equally demanding challenges of our era.”

Bloomberg News

This story was originally published February 26, 2016 at 2:51 PM with the headline "Facebook co-founder sells The New Republic."