Former ambassador Matthew Barzun is purchasing Louisville Magazine

Darcy Costello | Courier Journal

Please check back for updates to this developing story.

Louisville resident and former U.S. ambassador Matthew Barzun is purchasing Louisville Magazine and Louisville.com, the magazine announced Tuesday.

Barzun had previously served on Gannett's board of directors but will step down as a result of the purchase, which is expected to be finalized by Aug. 31. The Courier Journal is part of Gannett's USA Today Network.

"I'm stepping down from board service but doing so because I'm inspired to carry on a similar mission on a smaller scale in my hometown," Barzun said. "It was an honor to serve alongside such caring and committed people, and I look forward to watching the company and its newsrooms of dedicated professionals continue to strengthen and flourish in the years ahead."

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Barzun purchased the publication and website from Dan Crutcher, who owned Louisville Magazine since 1993 and was a founder of Louisville.com, according to a news release. The terms of the deal were not disclosed.

Louisville Magazine was founded in 1950 by the Louisville Area Chamber of Commerce, which owned the magazine until it was sold in 1993.

Crutcher said in a release he was pleased to be able to hand the magazine and website over to someone as "community-minded and appreciative of the magazine's traditions as Matthew Barzun."

"Under Matthew's leadership, I believe their best days are ahead of them," Crutcher said.

Barzun previously served as U.S. ambassador to the United Kingdom and Sweden and national finance chairman for President Barack Obama's re-election campaign.

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In the early 2000s, Barzun was an executive at CNET Networks, a tech review website. He has also been a private investor in a number of internet start-ups and co-founded MedTrackAlert.

He was honored at Harvard University last year for his role in strengthening British and U.S. relations while serving as ambassador to the United Kingdom, the Courier Journal previously reported.

Gannett chairman Jeff Louis and Bob Dickey, president and CEO, thanked Barzun for his service and contributions.

"We have benefited from Matthew's perspectives on the evolving digital landscape as well as from his passion for the communities we serve," Dickey said in a statement. "We wish him the very best."

Barzun is married to Brooke Brown Barzun, a marriage, family and child counselor and prominent arts philanthropist. She is a member of the family that owns Brown-Forman, one of the world's biggest spirits companies.

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Darcy Costello: 502-582-4834; dcostello@courier-journal.com; Twitter: @dctello. Support strong local journalism by subscribing today: courier-journal.com/darcyc.