Politico Publisher Buys Capital New York With Plans to Hire Dozens
The high-velocity ethos of Politico is coming to the New York media scene. Robert Allbritton, Politico’s publisher, said today that he has bought Capital New York, an online news site that covers New York City, where he plans to make a “substantial financial investment” to grow the company.
With Mr. Allbritton’s investment, Capital New York plans to hire more than two dozen new staffers and introduce a redesign in the fall. The business model will borrow from that of Politico, Mr. Allbritton said, with ads and subscriptions targeted at the “most influential readers in the core subjects it will cover.”
“I have very big ambitions for Capital,” Mr. Allbritton said in a statement, “to do in New York what we did in Washington with Politico.”
