The New Republic is an American magazine of commentary on politics, contemporary culture, and the arts. Founded in 1914 by several leaders of the progressive movement, it attempted to find a balance between "a liberalism centered in humanitarian and moral passion and one based in an ethos of scientific analysis". Through the 1980s and 1990s, the magazine incorporated elements of the Third Way and conservatism.In 2014, two years after Facebook co-founder Chris Hughes purchased the magazine, he ousted its editor and attempted to remake its format, operations, and partisan stances, provoking the resignation of the majority of its editors and writers. In early 2016, Hughes announced he was putting the magazine up for sale, indicating the need for "new vision and leadership". The magazine was sold in February 2016 to Win McCormack, under whom the publication has returned to a more progressive stance. A weekly or near-weekly for most of its history, the magazine currently publishes ten issues per year.