After hemorrhaging about $2 million per year and failing to sell itself to Robert De Niro, the Observer has found itself a baby daddy: Jared Kushner, a 25-year-old NYU law student and son of formerly incarcerated Jersey developer Charles Kushner, has purchased the paper for under $10 million. Today most of the staff should be meeting their boy wonder for the first time; Kushner sent the following email to his new toys last night:

From: Jared Kushner
Date: July 30, 2006 7:39:38 PM EDT
To: Observer Staff
Subject: Welcome

To the staff of the NY Observer:

I am writing to introduce myself as the new owner of this newspaper. For as long as have known of the NY Observer, I have held the paper in high regard both for its journalistic integrity and irreverent wit. I am not here to dictate the editorial content of this paper. I am here to provide backup to Peter Kaplan to help publish the best paper that we are capable of publishing.

I take on this responsibility with open eyes and an open heart. I am eager to learn from you all. I am excited to join this team and help this newspaper reach its full potential.



Before picking up the phone to call Arthur Carter to inquire about purchasing this newspaper, I spent a considerable amount of time assessing the responsibilities that owning this paper would require. I am equal to these challenges, and I look forward to earning your confidence.



We find ourselves at a crossroads in the newspaper business. The balance of printed and online content is undergoing an unprecedented adjustment and the way we deliver our product — first-rate journalism — continues to evolve. Together we will navigate this challenge with perseverance and innovation. The only promise I will make on the business front is to keep a completely open mind. At 25 and with only non-publishing related business experience, I am now equipped with two of the finest tools that a publisher could ever have; this fine staff, and the inquisitive energy needed to tackle
convention.



I look forward together to watching the media revolution from a shared front seat. I look forward to working together to continue publishing a paper that we can be proud of week after week. I look forward to turning this local business into a national forum. Together. And I look forward to developing an open and effective work environment where every person's energy, enthusiasm and commitment helps contribute to achieving our common goal.



Sincerely,

Jared

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