Politico Buys Online News Site Capital New York
NEW YORK (AP) — Politico says it's reached a deal to buy online news site Capital New York, boosting its coverage of New York politics.
Financial terms were not disclosed.
Politico owner Robert Allbritton said in a letter to his staff that he plans to make a "substantial" investment in Capital New York.
Allbritton said he wants to expand the Politico model of a non-partisan, news-driven website to other markets, with New York being the first.
Capital New York's co-founders and co-editors, Josh Benson and Tom McGeveran, will remain as co-editors and run the website's day-to-day operations.
Benson and McGeveran wrote in a letter to readers that Politico's investment will allow them to add staff and boost the site's focus on politics and the media.
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