Air Mail, High Level News site founded by former Vanity Fair editor Graydon CarterAccording to a report, the company is exploring the possibility of a sale.
The outlet, which covers topics such as style and living, culture and news, has hired boutique investment bank Rain Group to explore a sale after receiving interest from potential buyers. The New York Times reported.
The newspaper reported late Tuesday that talks were still in the early stages and that a sale might not happen. Neither Carter nor Air Mail immediately responded to requests for comment.
Party at the 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, and also has a network of contributors in Milan, Paris and London.
Established in 2019Air Mail is known for its weekend email newsletter, which features Vanity Fair-like news covering topics such as society, true crime, money, and politics, as well as travel recommendations and shopping tips.
Carter, who co-founded the now-defunct satirical Spy magazine, also served as editor of The Spy magazine. Vanity Fair was owned by Condé Nast for 25 yearsEfforts have been made to expand air mail for the past few years.
The company has launched an online store called Air Supply, which offers a variety of luxury items, such as a Rimowa suitcase for $1,650, Persol sunglasses for $360, a Leica digital camera for $1,595 and a Nick Plante wood and leather backgammon set for $4,285.
Air Mail opened storefronts called Air Mail Newsstand in New York's West Village, London's Marylebone neighborhood, and Milan's chic San Marco district.
The shops sell books, magazines, and gifts such as stationery and Christophe Pournié soap from Kyoto.
The company has also launched several podcasts, including one with Vanity Fair’s longtime contributing editor Mark Seal, who is developing a show based on his book “Leave the Gun, Take the Cannoli” about the making of “The Godfather.”
earlier this year, Semaphore reports Standard Industries was in talks to buy Air Mail for $50 million. Those talks fell through and are no longer active, the Times reports.
Over the years, Carter has secured investments for Air Mail from media and financial companies, such as his friend David Zaslav, the chief executive of Warner Bros. Discovery, private equity giant TPG and RedBird Capital Partners.
Air Mail has so far raised $32 million at an undisclosed valuation, the Times reported.
The outlet also said that if the sale goes through, Carter plans to continue his association with Air Mail, which has garnered nearly 500,000 subscribers to its newsletter.
