"After weeks of negotiations the newsletter company officially acquired Air Mail in a deal that reportedly values it at $16 million - half as much money as Air Mail had raised since 2019. Carter and Alessandra Stanley, Carter's co-editor, are stepping down, and Julia Vitale, the deputy managing editor, will take their place."
"Air Mail will now be overseen by Puck's co-founder Jon Kelly, a former editor at Vanity Fair who was once Carter's assistant; the merger could be seen as a marriage of mentor and mentee's post- Vanity Fair newsletter enterprises. In truth, it has exposed bad blood between the two camps, as well as the gap between Air Mail 's ambitions and the reality of its struggling finances. Neither publication is profitable, and the deal is mostly a stock exchange."
Staffers gathered in Genoa for an editor's wedding at a family palazzo, reflecting the publication's high-society aesthetic. Air Mail positioned itself as a glossy, weekend-style international newsletter offering travel recommendations and magazine-length dispatches on fashion, art, scandal, and politics. The newsletter company Puck acquired Air Mail in a deal reportedly valuing it at $16 million; Graydon Carter and co-editor Alessandra Stanley are stepping down, with Julia Vitale named editor. Jon Kelly will oversee Air Mail within Puck, a consolidation that exposed bad blood between the two teams. Neither publication is profitable, and the transaction is largely an exchange of stock. Staff expressed anxiety about integration and site consolidation.
Read at Intelligencer
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