In companion posts (one and two) 13 months ago, I defended Chris Hughes’ decision to reimage The New Republic and relocate operations to the Big Apple. Having the right strategy (and I believe it remains so) isn’t the same as being the person capable of executing it. Today, in a stunning admission, Chris writes: “I have decided to put The New Republic up for sale”. Son of a bitch! Really?
“After investing a great deal of time, energy, and over $20 million, I have come to the conclusion that it is time for new leadership and vision at The New Republic“, he explains. “When I took on this challenge nearly four years ago, I underestimated the difficulty of transitioning an old and traditional institution into a digital media company in today’s quickly evolving climate”.