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Chris Hughes, once a new-media pioneer, makes bet on old media with New Republic

Chris Hughes’s first business venture worked out nicely. As a teenager, he helped start something called Facebook. Within four years, working mostly part-time, Hughes vaulted into the ranks of the stratospherically wealthy. He wasn’t quite 23 years old.

Chris Hughes, Facebook co-founder, takes over New Republic magazine

Chris Hughes, a co-founder of Facebook and organizer of Barack Obama's 2008 presidential campaign, has purchased a majority stake in the New Republic magazine and will become the venerable journal's editor in chief and publisher.

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