New York Observer
The pink-newsprint Manhattan weekly founded in 1987 by Arthur Carter, bought for $10 million in 2006 by 25-year-old Jared Kushner and remade under his decade as publisher — ending with a 2016 Trump primary endorsement, the death of the print edition, and a 2017 sale to a family trust.
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- Country
- United States
- Founded
- September 1987 by Arthur L. Carter, a former Wall Street executive
- Identity
- Weekly newspaper printed on pink newsprint, chronicling New York's business elite
- 2006 purchase
- Jared Kushner, then 25, bought a controlling stake for $10 million
- 2016 turning point
- Endorsed Donald Trump in the GOP primary; ended the print edition in November and went digital-only
- 2017 divestiture
- Kushner's stake sold to a family trust as he joined the White House; Joseph Meyer took over as publisher
- Current form
- Digital publication under Observer Media, which also publishes the Commercial Observer; James R. Freiman is CEO of Observer Media
Overview
The New York Observer was, for most of its print life, exactly what its pink newsprint suggested: a cheeky, insider chronicle of Manhattan’s business and social elite (The Harvard Crimson). It was first published in September 1987 by Arthur L. Carter, a former Wall Street executive, and made its name covering the city’s power brokers in a format no one could mistake on a newsstand (The Harvard Crimson).
In July 2006, that paper was bought by a 25-year-old: Jared Kushner, who paid $10 million for a controlling stake in a weekly losing about $2 million a year (The Harvard Crimson). Kushner, then attending NYU’s law and business schools, promised not to interfere in editorial content and said he would focus on advertising and circulation (The Harvard Crimson). He would serve as the paper’s publisher for roughly the next decade (EBSCO).
The rightward drift
Under Kushner the paper’s politics moved. It endorsed Mitt Romney over Barack Obama in 2012 — an early sign of the shift (GantNews). Then, in April 2016, the Observer endorsed Donald Trump in the Republican presidential primary, becoming one of only four papers to do so, alongside the New York Post, the Santa Barbara News-Press, and the National Enquirer (St. Louis Jewish Light). The editorial addressed the conflict of interest head-on: “Donald Trump is the father-in-law of the Observer’s publisher. That is not a reason to endorse him,” it read (GantNews).
The endorsement broke the newsroom. Ross Barkan, the paper’s national political reporter, announced he was leaving the week of the endorsement over concerns with its Trump coverage (GantNews). The proximate cause was a revelation that Kushner had helped write the speech Trump delivered to the American Israel Public Affairs Committee and that editor-in-chief Ken Kurson — a longtime Kushner friend — had reviewed it before it went public; the paper then said it was “re-visiting” its Trump coverage policy and that no editorial staffer would give input to the campaign (GantNews). A Jewish staff writer published an open letter calling out Kushner over perceived anti-Semitic messaging in his father-in-law’s campaign (St. Louis Jewish Light). The paper did not repeat the endorsement in the general election, Kurson said (St. Louis Jewish Light).
Print dies, a fire sale fails
In November 2016, days after Trump’s election, the Observer stopped printing physical copies and became a digital-only publication — dropping “New York” from the masthead to become simply the “Observer” (TheWrap; EBSCO).
Behind the scenes, Kushner was trying to get out. Days after the election, he and Observer Media chair Joseph Meyer quietly shopped the paper to two die-hard Hillary Clinton supporters: mega-donor Haim Saban and Media Matters founder David Brock (TheWrap). Saban confirmed to TheWrap that Kushner offered him the paper — after initially denying it — and editor-in-chief Kurson confirmed he and Meyer had talked to Saban by phone in late 2016 and that he met Brock in January 2017 (TheWrap). The talks collapsed over money: a source said Kushner demanded $20 million for the paper — double what he had paid exactly a decade earlier (TheWrap).
The 2017 divestiture
With the sale talks dead, Kushner divested as he entered the White House. In January 2017, as he resigned all his professional roles to become a senior adviser to the president, his lawyers told CNNMoney the Observer would be sold to a family trust — one whose beneficiaries excluded Kushner, his wife Ivanka Trump, and their children (GantNews). Joseph Meyer, the chairman and CEO, took over as publisher, writing in a staff memo: “I will be taking over as Observer publisher and Jared will no longer have an ownership stake in the Observer. He has resigned from our editorial board and will play no role in the publication’s affairs going forward” (GantNews).
Today the paper continues as a digital publication under Observer Media, which also publishes the Commercial Observer; first-party company coverage identifies James R. Freiman as CEO of Observer Media, which owns the Commercial Observer (Commercial Observer). Kushner has no ownership stake and no role in the company (GantNews).
What this profile does not claim
This profile does not date the Trump endorsement to a specific day in April 2016 — the April 12 date rests on a Wikipedia citation trail and is held to April 2016. It does not describe Joseph Meyer’s current ownership of Observer Media through Observer Capital, the Commercial Observer’s 2012 launch, or the integration dates of BetaBeat, Gallerist, and Politicker, none of which rests on a fully-read source. It does not report Kushner’s private purchase price beyond the widely reported $10 million figure or characterize the paper’s current editorial stance, which was not verified.
Timeline
- 1987
- Arthur L. Carter founds the paper, first published in September on distinctive pink newsprint.
- 2006
- Jared Kushner, 25, buys a controlling stake for $10 million; the paper is losing about $2 million a year.
- 2012
- The paper endorses Mitt Romney over Barack Obama.
- 2016
- The Observer endorses Donald Trump in the Republican primary; political reporter Ross Barkan leaves in protest; the print edition ends in November; Kushner quietly shops the paper to Clinton supporters Haim Saban and David Brock.
- 2017
- Kushner resigns all roles to become a White House senior adviser and his stake is sold to a family trust; Joseph Meyer takes over as publisher.
What we could not verify
These claims came up in research and could not be confirmed. They are recorded here rather than published as fact or quietly dropped. If you hold a source that settles one, please tell us.
- The exact April 12, 2016 date of the Trump endorsement editorial — only a Wikipedia citation trail; held to 'April 2016'.
- Joseph Meyer's current ownership of Observer Media through Observer Capital — Wikipedia-level only.
- The Commercial Observer's 2012 launch and the integration dates of BetaBeat, Gallerist, and Politicker — Wikipedia-level only.
Sources
8 sources (1 tier 1, 3 tier 2, 3 tier 3, 1 first-party), each opened and read against the claim it supports. Statements the subject makes about itself are marked as such and are not treated as independent evidence. See the source policy.
- Supports: 2006 acquisition of the New York Observer for approximately $10 million; served as publisher for a decade; ended the print edition in favor of an online-only presence Open original source
- Supports: Print physical copies stopped in November 2016, became digital-only; Kushner stepped down as publisher in January 2017 with the chairman stepping into his role; per the New York Times, Kushner would sell his stake Open original source
- Supports: Days after the 2016 election, Kushner and Joseph Meyer quietly shopped the paper to Haim Saban and David Brock; Saban confirmed the offer to TheWrap; Kushner demanded $20 million — double his purchase price; talks died over money Open original source
- Supports: Observer one of four papers endorsing Trump in the Republican primary (with NY Post, Santa Barbara News-Press, National Enquirer); no general-election endorsement, per editor-in-chief Ken Kurson; Kurson-Kushner friendship and AIPAC speech review; Jewish staff writer's open letter to Kushner Open original source
- Kushner Buys NY Observer Tier 3Supports: Founded September 1987 by Arthur L. Carter, former Wall Street executive; pink newsprint; chronicled the city's business elite; Kushner paid $10 million for a controlling stake; paper losing ~$2M/year; Kushner promised not to interfere editorially, would focus on advertising and circulation Open original source
- Supports: Kushner's lawyers told CNNMoney the Observer would be sold to a family trust of which Kushner, Ivanka Trump, and their children were not beneficiaries; Joseph Meyer, chairman and CEO, took over as publisher; Meyer's memo: Kushner 'will no longer have an ownership stake' and resigned from the editorial board Open original source
- Supports: Ross Barkan left the paper the week of the Trump endorsement over Trump-coverage concerns; Kushner helped write Trump's AIPAC speech and Kurson reviewed it; paper said no editorial staffer would give input to the campaign; 2012 Romney endorsement; editorial addressed the father-in-law connection Open original source
- Supports: James Freiman identified as CEO of Observer Media, which owns the Commercial Observer — establishing the paper's current corporate home Open original source
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