Josh Kushner and his supermodel wife Karlie Kloss have reportedly agreed to buy Life magazine from Barry Diller’s IAC for an undisclosed sum.
Mr. Kushner, the venture capitalist who owns Thrive Capital, and his wife have reached an agreement with IAC subsidiary Dotdash Meredith for the publishing rights to Life, a photo-based magazine that ceased monthly publication in 2000.
Bedford Media, Cross’s media startup, has acquired the publishing rights to Life. According to the New York Times.
Founded by Time publisher Henry Luce, Life began as a weekly photography magazine published from 1883 to 1972. Since then, we have published special editions intermittently, but went fully online in 2008.
The magazine’s photojournalists captured iconic images from major events of the 20th century, including World War II, the Korean War, and the Vietnam War.
Kushner, the younger brother of former Trump administration adviser Jared Kushner, approached Diller about reviving Life last year, the paper said.
Mr. Kushner, who has a net worth of more than $3 billion thanks to his venture capital firm’s investments in Instagram, Spotify and Slack, has created print and We pitched dealers to revive the brand both online and online. The Times reported.
“Life’s legacy lies in its ability to blend culture, current events and everyday life, highlighting the triumphs, challenges and unique perspectives that define us,” Kushner, the magazine’s publisher, said in a statement. said.
While Bedford Media publishes the magazine, Dotdash Meredith retains the rights to the photography and content archive.
Dotdash will continue to publish special print editions on single topics.
“We see Life as an uplifting and unifying voice in a chaotic media environment,” Cross told the Times.
This is the couple’s latest foray into media acquisitions. Last year, Mr. Bedford acquired iD, a style magazine formerly owned by Vice.
In 2020, Cross assembled a group of investors to acquire luxury fashion magazine W.
Bedford will soon begin hiring editorial staff for Life magazine. The magazine tentatively plans to resume publication early next year.
The acquisition comes at a perilous time for the news industry.
News website The Messenger, which had been operating since May last year, shut down last month, leaving about 300 journalists suddenly unemployed.
The Los Angeles Times has laid off more than 100 journalists in recent weeks, Business Insider and Time magazine have announced layoffs, Sports Illustrated is struggling to survive, and the Washington Post has laid off more than 200 staffers. The acquisition has been completed.
The Wall Street Journal recently laid off about 20 people in its Washington bureau.
Pitchfork announced it is no longer an independent music site, following the demise of digital publications BuzzFeed News and Jezebel last year.
with post wire
