Move over Warren Buffet, there’s a new media mogul in town. Chris Hughes, one of the original founders of Facebook and a pioneer of new media, announced in March that he had bought a majority share in The New Republic and would become editor-in chief with immediate effect.

A bimonthly publication sent to its readers through the post, The New Republic is a publication steeped in history and weighed down by a turbulent recent past. In the space of 5 years the magazine had changed owners four times, and at present its circulation stands at about 40,000 copies, less than a third of what it was 15 years ago. It’s a story familiar to many print publications struggling to answer the challenges thrown down by online news and information sources. What makes the case of Chris Hughes’ involvement in the magazine particularly interesting is that, instead of looking at immediate ways to make money, the 28-year-old businessman has indicated a desire to look to the long-term health of the magazine. Addressing TNR’s readers, Hughes made it clear that, unlike other media outlets, the magazine would not “chase superficial metrics of online virality at the expense of investing in rigorous reporting and analysis of the most important stories of our time.”