Ex-Vanity Fair editor Graydon Carter’s highbrow news site Air Mail reportedly up for sale
Air Mail, the highbrow news site founded by former Vanity Fair editor Grꦑaydon Carter, is exploring a sale, according to a report.
The outlet, which covers topics like style 🔯and living, culture and news, hired boutique investment bank Raine Group to explore a sale after it received interest from potential buyers,
Talks are still early and may not result in a sale, the pape🃏r reported late Tuesday. Neither Carter nor Air Mail immediately responded to requests for comment.
party at Hotel du Cap-Eden-Roc in Cap d’Antibes, France on May 23, 2023. Getty Images for Air Mail LLC.
The company has 34 employees in New York as well as a network of contributors in ♎Milan, Paris and London.
Founded in 2019, Air Mail is known for its weekend email new💧sletter of Vanity Fair-esque reported features on a smattering of topics including society, true crime, wealth and politics, as well as travel ♌recommendations and shopping tips.
Carter, who co-founded the defunct satirical Spy Magazine before editing the Condé Nast-owned Vanity Fair for 25 years, has tried to expand Air Mail over the years.
The company launched an online store dubbed Air Supply that offers a range of luxury goods, such as a Rimowa suitcase for $1,650, Persol sunglasses for $360, a Le𝔉ica digital camera for $1,595 and a wood and leather backgammon set from Nick Plant for $4,285.
Air Mail opened a storefront called Air Mail Newsstand in New York’s West Village, London’s tony Marylebone neighborhood and Milan’s charming San Marco district.
The shops se🌌ll books, magazines and gifts such as stationery from Kyoto and Ch🐲ristophe Pourny soaps.
The company has also rolled out several podcasts, including one with longtime Vanity Fair contributing editor Mark Seal, who is🌜 developing a show based on his book “Leave the Gun, Take the Cannoli” about the making of “The Go♛dfather.”
Earlier this year, that Standard Industries was in talks to acquireꦡ Air Mail for $50 million. Those talks fell through and are no longer active, The Times reported.
Over the years, Carter has drawn investments for 𒈔Air Mail from media and financial players, such as his friend, David Zaslav, the chief executive of Warner Bros. Discovery, private equity giant TPG and RedBird Capital Partners.
The Times reported that Air Mail has raised $32 million thus far at an undisclosed v൩aluation.
The outlet added that if there is a sale, Carter plans to continue his involvement with Air Mail, which has amassed roughly 500,000 subscribers for 🎐its newsletter.