Laurene Powell Jobs and her Emerson Collective made news this week with the announcement that they have bought a majority stake in The Atlantic magazine and website. David G. Bradley, the chairman and owner of Atlantic Media will retain a minority stake in The Atlantic and will continue as chairman and operating partner for at least three to five years, writes The Atlantic. In a letter to his staff, Bradley wrote that Emerson Collective will most likely assume full ownership of The Atlantic within five years.
Emerson Collective already has significant investments in media, from movie-production companies such as Anonymous Content to start-ups such as The California Sunday Magazine. The organization has provided support to several nonprofit journalism outlets, including the Marshall Project and ProPublica.
Update: Podcaast Startup Gimlet Media Raises $15 Million From Stripes Group, Laurene Powell Jobs' Emerson Collective Variety Aug. 2, 2017