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Peretz regains New Republic

March 10, 2009|Associated Press

The political magazine the New Republic has been sold back to its longtime editor in chief.

Canada's largest media company, Canwest Global Communications Corp., said Monday that it sold the magazine to a group of private investors that includes editor Martin Peretz and investment banker Lauren Grafstein for an undisclosed amount. Canwest bought the liberal magazine from Peretz two years ago.

Canwest spokesman John Douglas said the company was trying to clean up its balance sheet and shed non-core assets.

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