CanWest Global Communications Corp. has invested in The New Republic, joining longtime EIC Martin Peretz, Roger Hertog, vice chairman of Alliance Capital; and Michael Steinhardt, president of Steinhardt Management Corporation. Terms of the partnership were not disclosed. No question that the New Republic’s internet operations were part of the draw for CanWest. TNR.com claims 500,000-plus monthly uniques and 3.5 million monthly pageviews.
Peretz: “…. There are many synergies that we envision between CanWest and TNR, especially in our web business and other areas in which our new partner commands tremendous expertise and authority. We are excited to have attracted associates that can help us extend our reach internationally.”
CanWest CEO Leonard Asper: “Of special interest is The New Republic’s vast library of content and ambitious and increasingly successful web site, TNR.com, which already commands a large audience from quality readers.”
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