Laurene Powell Jobs Buys a Majority Stake in 'The Atlantic'

Paterniano Del Favero
Luglio 28, 2017

The publication announced on Friday that its current owner David G. Bradley would sell much of his stake in the company to the organization run by the widow of Apple co-founder Steve Jobs.

Bradley will own a minority stake in Atlantic Media and will continue to run the US magazine for at least three to five years, the company said in the statement. "Likely, but not certainly, Emerson Collective will purchase my remaining interest three to five years from now".

Founded in 2004, Emerson Collective is led by Powell Jobs, 53, and centers its work on education, immigration reform, the environment and other social justice initiatives.

In addition, Emerson Collective previous year acquired a minority stake in management-production company Anonymous Content, whose productions include "Mr. Robot" and "Spotlight", and also has invested in Macro, a production venture launched by former WME agent Charles King.

For The Atlantic, the deal represents something of a return to its roots: Ralph Waldo Emerson, after whom Emerson Collective is named, was one of the magazine's founders. They did not disclose the price paid for the organization's flagship magazine, digital properties (including National Journal, Quartz, The Hotline, and Government Executive), live events business, and consulting services. "Katherine and I would need to look farther afield", he wrote. "A year ago, I tasked a small group of researchers with identifying a list of individuals who might succeed me as the sixth owner of The Atlantic".

How this will change the magazine and its management is not really known.

Laurene Powell Jobs is buying a majority stake in The Atlantic, a 150-year-old mainstay of American journalism, under a deal that could eventually give her full ownership. The list topped 600 names. She later included, "I do believe it's a national fortune that ought to be saved". For a time, Emerson Collective and I will own jointly, and then Emerson Collective alone, The Atlantic - magazine, websites and affiliated businesses. And, for me, from the first, Laurene Powell Jobs sat atop the list. Lattman, former media editor and deputy business editor at the New York Times, will continue in his role of media strategist for Emerson Collective. So, let's make it our work to prove the wisdom of our era wrong.

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