Home / Business and Economy / Puck Acquires Air Mail in $16M Deal, Graydon Carter to Depart
Puck Acquires Air Mail in $16M Deal, Graydon Carter to Depart
31 Oct
Summary
- Puck closes acquisition of Air Mail in cash and stock deal
- Founding editor Graydon Carter to exit, deputy editor Julia Vitale takes over
- Deal valued at $16 million, Carter to enter consulting contract before retirement
In a significant move in the digital media landscape, Puck, a digital weekly magazine founded in 2019, has closed the acquisition of Air Mail, a subscription-based newsletter co-founded by veteran journalist Graydon Carter. The deal, valued at $16 million, will see Carter exit his role as deputy managing editor, with Julia Vitale, his colleague of 10 years, taking over the leadership of Air Mail.
According to the announcement, the acquisition was driven by Puck's vision to create a "digital daily news engine" with Air Mail serving as the "weekend edition." Carter expressed his confidence in the partnership, stating that Puck's "sharp, crisp reporting" and Air Mail's "international coverage of politics, the arts, and interesting scandals" will create the "perfect alignment."
The transition will mark the end of Carter's involvement with Air Mail, which he co-founded in 2019 after stepping down from his role at Vanity Fair in 2017. Vitale, who has worked closely with Carter for a decade, will now be responsible for steering the platform's future direction.
