Wanted: Wealthy Philanthropist With A Love For Literature

Granta, the one-time Cambridge University student magazine, is seeking a new owner to carry on a tradition of discovering new writers that began in 1889.

Rea Hederman, who also owns the New York Review of Books, has talked with potential buyers for Granta magazine and Granta Books in recent months as his thoughts turn to retirement.

"We hope he'll find someone sympathetic with what we do," said Gail Lynch, publisher of Granta Books.

"What would be ideal would be someone like Rea, who's benevolent, philanthropic and wealthy and who wants to be associated with a brand like Granta and let it carry on the way it is at the moment," she added.