"We are proud to be taking this celebrated institution into the 21st Century," said Alter. "We will maintain its extraordinary staff of writers and editors, including Editor Franklin Foer, but give them additional resources to capitalize on the success of the TNR.com website and the revamped look of the magazine."

Alter joined the acquisition in part due to his respect for Peretz: "I’ve known Marty Peretz for over 25 years. As a professor of social studies, he was an enormous influence and helped me to form my own world view. In joining The New Republic's ownership team, I have an opportunity to help promote a richer political debate within our country and to help the next generation dream big on issues like the environment, infrastructure, social justice, healthcare and the economy."

The New Republic was founded in 1914 and is published bi-monthly. The magazine has a circulation of approximately 50,000 with another 1 million readers online. Over its 95-year history, The New Republic’s contributors have included John Dewey, Thomas Mann, Phillip Roth, Virginia Woolf and Reinhold Neibuhr. "The New Republic has always aimed to be the most fiercely independent of all the major political magazines," said Editor-in-Chief, Martin Peretz. "Eschewing the traditional polarities of right and left, The New Republic covers issues before they hit the mainstream, from energy to the environment, from foreign to fiscal policy. Our level of access and our fidelity to in-depth analysis have helped boost our Washington beltway readership by 30 percent and we are among the top media for the Congressional Leadership."

To continue its tradition of excellence, the magazine has undergone several key recent transformations. "The publication is going through a significant shift," said Franklin Foer, the magazine's editor. Starting in 2007, The New Republic moved from 44 to 24 issues, improved the art direction and size of the print publication, and introduced more daily web content."

Of the shift in management, Foer said, "The new management supports our most visible change -- a new masthead replacing the graphic that has stood since the magazine's founding, signaling a return to our independent roots. We will also launch a new website in the fall which will allow us to build on our considerable audience of young readers and pursue a number of issues in more depth -- from healthcare to energy to the environment to transportation."

Said White House Chief of Staff Rahm Emanuel, "The New Republic will be required reading in The White House." The publication is among a handful of magazines that President Obama has selected for Air Force One.

About The Alter Group
Founded by William A. Alter in 1955, The Alter Group has developed close to 100,000,000 SF of commercial real estate for major corporate users and for its own portfolio. This year, the company has 4,000,000 SF of office, industrial and healthcare facilities, worth $600,000,000, under development across the nation. Additionally, the firm provides comprehensive services in brokerage, construction, investment services, and property and asset management. The firm was recently ranked as # 5 in the National Real Estate Investor survey of America's top office developers.

About The New Republic
When The New Republic was founded in 1914, its mission was to provide its readers with an intelligent, stimulating and rigorous examination of American politics, foreign policy and culture. It has brilliantly maintained its mission for ninety five years.

Headquartered in Washington, DC, The New Republic is uniquely positioned to cover public affairs from an insider's vantage point. Our editors are among the most respected and influential journalists in the country, known for their uncanny ability to get at the important stories long before they reach other media. Visit www.tnr.com.