Air Mail, the luxury news site founded by former Vanity Fair editor Graydon Carter, is reportedly considering a sale.
The media outlet, which covers topics including style, lifestyle, culture and news, has hired boutique investment bank Raine Group to explore a sale after receiving interest from potential buyers. The New York Times reported.
The paper reported late Tuesday that negotiations were still in the early stages and may not result in a sale. Neither Carter nor Air Mail immediately responded to requests for comment.
The party will take place on May 23, 2023 at Hotel du Cap-Eden-Roc in Cap-d'Antibes, France. Getty Images courtesy of Air Mail LLC.
The company has 34 employees in New York and also has a network of contributors in Milan, Paris and London.
Founded in 2019, Airmail is known for its weekend email newsletters with Vanity Fair-esque feature articles on a variety of topics including society, crime, wealth, politics, travel recommendations, and shopping tips.
Carter, who co-founded the defunct satirical publication Spy Magazine and later edited Conde Nast-owned Vanity Fair for 25 years, has worked for many years to expand Air Mail.
The company has launched an online store called Air Supply, which sells a variety of luxury items, including $1,650 Rimowa suitcases, $360 Persol sunglasses, $1,595 Leica digital cameras and a $4,285 Nick Plant wood-and-leather backgammon set.
Airmail has opened “Airmail Newsstand” stores in New York's West Village, London's upscale Marylebone and Milan's charming San Marco district.
In addition to books and magazines, the store also sells gifts such as Kyoto stationery and Christophe Pruny soaps.
The company also has several podcasts under its belt, including one with longtime Vanity Fair contributing editor Mark Seale, who is developing a show based on his book about the making of “The Godfather,” “Leave the Gun, Take the Cannoli.”
Earlier this year, Semaphore reported Standard Industries was in talks to buy Air Mail for $50 million, but those talks fell apart and are no longer taking place, The Times reported.
Over the years, Carter has raised investments for Air Mail from players in the media and finance industries, including his friend, Warner Bros. Discovery Chief Executive David Zaslav, as well as private equity giants TPG and RedBird Capital Partners.
The Times reported that Air Mail has raised $32 million to date at an undisclosed valuation.
The media added that if the sale goes through, Carter plans to continue his involvement with Air Mail, which has about 500,000 newsletter subscribers.
