Wall Street Journal: A year ago, Chris Hughes, owner of the New Republic, vowed to continue his fight to transform the century-old magazine into a more digitally-focused media operation, despite a mass walkout by staffers who bristled at his efforts. On Monday, he said he was done. The 32-year-old Facebook co-founder announced that he is putting the magazine up for sale. He admitted he had underestimated “the difficulty of transitioning an old and traditional institution into a digital media company.”