The New Republic is about to start over ... again.
Win McCormack, a left-leaning political activist and publisher of literary magazine Tin House, purchased the magazine on Friday, according to a statement.
McCormack said he intends to preserve "the journal as an important voice in a new debate over how the basic principles of liberalism can be reworked to meet the equally demanding challenges of our era," in a statement released Friday.
The new owner tapped a former publisher of The Nation, Hamilton Fish, as publisher and editorial director. Both New Republic and The Nation are liberal magazines.
McCormack advocated for President Barack Obama before his 2008 election. He also chairs the Oregon Democratic Party’s President’s Council, according to his website, and has written extensively on cults.
Former owner Chris Hughes, a Facebook co-founder, put the magazine up for sale in January. He bought New Republic in 2012 and endured a tumultuous tenure atop the masthead that saw staff walkouts and a rough transition to a more digitally focused publication.
Hughes praised the new owner and publisher in a statement, saying their backgrounds "make them uniquely qualified to lead such a historic institution."