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Politico boss buys New York website Capital and plans big expansion

New York is to get an injection of Politico dynamism. Robert Allbritton, publisher of the Washington-based site, has bought for an undisclosed sum Capital New York, an online news site that covers New York City.

Capital: New look on the way

In a statement today he said he plans to make a "substantial financial investment" to grow the company. "I have very big ambitions for Capital to do in New York what we did in Washington with Politico."

Capital New York will be hiring more than two dozen staff- quadrupling the present count of eight. A redesign will be introduced in the autumn. The business model will borrow from that of Politico, Allbritton said, with ads and subscriptions targeted at the "most influential readers in the core subjects it will cover."

Capital was launched in 2010 by former New York Observer editors Josh Benson and Tom McGeveran. It will now be led by Politico co-founder and executive editor Jim VandeHei, who will serve as president while remaining in his current role at Politico. Benson and McGeveran will remain co-editors.

Allbritton's goal, reported on Poliico itself, is to apply the Politico business model to New York City and "focus laser-like on New York and its power centers, including the media, city and state politics, culture and business."

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Noel Young

Former editor of Sunday Mail in Glasgow and Group Managing editor of Daily Record and Sunday Mail. Now Boston-based US correspondent for UK newspapers including Daily Mail, Mail on Sunday and Sunday Post. Material also syndicated by Edit International in Florida. US editor for The Drum.

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