According to a New York Times report, Publisher Robert Allbritton of Politico acquired three-year-old news Web site Capital New York. On Monday, Allbritton said to his staff in an email that his acquisition of Capital New York was to turn it into a New York version of the American political journalism organization. Politico's headquarters is based in Arlington, Virginia. Financial terms of the acquisition were not disclosed but the amount was said to be small.
Capital New York would still be running as an independent entity under its founders and co-editors Josh Benson and Tom McGeveran. Politico's co-founder and executive editor Jim VandeHei, on the other hand, would be on board as president of Capital New York. two other news veterans from Politico would be joining Capital New York as well.
"I believe powerfully that nonpartisan publications with an intense focus on a specific set of topics can break though quickly, editorially and financially. I'm excited to take the impressive work Benson and McGeveran did with Capital to the next level." Allbritton said in a statement on Monday.
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