Group Led by Laurene Powell Jobs Acquires Majority Stake in The Atlantic

Gillian B. White, reporting for The Atlantic:

David G. Bradley, the chairman and owner of Atlantic Media, is announcing this morning that he is selling a majority stake in The Atlantic to Emerson Collective, an organization led by philanthropist and investor Laurene Powell Jobs. Bradley will retain a minority stake in The Atlantic and will continue as chairman and operating partner for at least three to five years. In a letter to his staff, Bradley wrote that Emerson Collective will most likely assume full ownership of The Atlantic within five years.

Reminds me of Jeff Bezos’s acquisition of The Washington Post — a wealthy steward who can bankroll essential and good journalism.

Friday, 28 July 2017