Facebook co-founder Chris Hughes admitted in a public letter that he had misjudged how hard it would be to revive the teetering 100-year-old publication in the face of the challenge from aggressive online journalism. But the move also came a year after Hughes's strategic changes, including a greater focus on seeking profits from online advertising rather than survive on benefactors' handouts, spurred an exodus of top writers and editors.
A team of top names in centrist-liberal circles jumped ship, damaging Hughes' efforts to shore up the publication in what was touted as a clash of Silicon Valley and Washington cultures. But it also came as the New Republic faced stiff competition from innovative online-only upstarts like Vox, Vice and Salon, and other rivals in the political space like Atlantic, Politico and a slew of popular blogs. "After investing a great deal of time, energy, and over $20 million, I have come to the conclusion that it is time for new leadership and vision at The New Republic," Hughes said. He claimed some success, building a younger and more diverse readership on a new digital strategy. "We have made it possible for The New Republic to survive and begin to flourish in its second century," he said.