Politico Publisher Buys Capital New York

By: Dylan Byers | Politico

In an ambitious play for the New York market, POLITICO publisher Robert Allbritton has purchased the online news site Capital New York, with plans to make "a substantial investment" in the business and more than quadruple staff.

Capital, which was launched in 2010 by former New York Observer editors Josh Benson and Tom McGeveran, will now be led by POLITICO co-founder and executive editor Jim VandeHei, who will serve as president while remaining in his current role at POLITICO. Benson and McGeveran will remain co-editors.