Jared Kushner, a 25-year-old student entering his third year at New York University School of Law, has paid $10 million to buy a majority stake in The New York Observer, according to a report in the New York Times. Kushner is the son of a wealthy New Jersey developer who was sentenced to prison last year after pleading guilty to tax evasion, witness tampering and illegal campaign donations.

Photo of Bob Ambrogi Bob Ambrogi

Bob is a lawyer, veteran legal journalist, and award-winning blogger and podcaster. In 2011, he was named to the inaugural Fastcase 50, honoring “the law’s smartest, most courageous innovators, techies, visionaries and leaders.” Earlier in his career, he was editor-in-chief of several legal publications, including The National Law Journal, and editorial director of ALM’s Litigation Services Division.