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Michael Alter Joins Investor Group to Purchase The New Republic
We are excited to announce that Michael Alter, president of The Alter Group, is part of an investment team that has purchased The New Republic (TNR). TNR is one of the nation’s oldest political and cultural magazines. The Obama administration has chosen it as one of the magazines placed on Air Force One, and Chief of Staff Rahm Emmanuel has said “The New Republic will be required reading in the White House.”
Michael’s status as one of the nation’s most independent and visionary commercial real estate developers and philanthropists makes him an excellent fit with TNR. Since its founding, the magazine has always been fiercely independent, going beyond the rancor of the political debate to be a voice for truth, accuracy and fairness, irrespective of political affiliation. Under Editor Frank Foer’s fiercely independent leadership, TNR has become aligned with the Obama administration and its left-wing domestic policy, while retaining its fidelity to a strong national defense. We are proud to claim as our spiritual fathers Teddy Roosevelt and Louis Brandeis.
Currently, TNR is experiencing a resurgence by focusing in-depth on critical issues such as healthcare, the environment, transportation and economic stewardship. And our staff is extraordinary. Writer Jonathan Cohn, for example, has become well known on “Colbert Nation”, “Keith Olbermann” and National Public Radio as one of the most progressive voices on healthcare reform. With TNR readership up by 30 percent within the Washington Beltway, we are implementing a new masthead to freshen our look and are unveiling a new website in the fall to draw younger readers to the magazine.
TNR was founded in 1914 by legendary journalist Walter Lippmann. During the early 20th century, the publication was the voice of liberalism and a strong opponent of McCarthyism and the Vietnam War. Over its 95-year history, TNR has published articles by such eminent authors as Virginia Woolf, Phillip Roth, George Orwell, John Dewey and Thomas Mann.
“We are proud to be taking this celebrated institution into the 21st century,” according to Alter. “We will maintain its extraordinary staff of writers and editors, but give them more resources to capitalize on the success of the website and the revamped look of the magazine.”
Well said, Michael.
Mike Rancilio is publisher of The New Republic