Most people outside the media won't care about this. And justifiably so.
But the Atlantic is the last "liberal" liberal magazine there is. After the New Republic was transformed from a serious publication into a snarky social justice blog, the Atlantic remains the only publication that actually questions leftist extremism. It publishes Jonathan Haidt and provided an important pushback against the campus intersectionality hate cult. It publishes Conor Friedersdorf who makes a case for free speech. (The Atlantic also publishes plenty of bad actors including Black Nationalist bigot Ta-Nehisi Coates.)
Now the Emerson Collective has taken a majority stake with a view to ownership.
The Collective is the organization founded by Steve Jobs' widow. Jobs had little interest in the philanthropy game while alive. His widow has a fortune to play with. And her Emerson Collective pushes social justice, illegal aliens and all the expected stuff.
Why buy into the Atlantic, same reason Amazon boss Jeff Bezos bought the Washington Post. It's an effective medium for influencing important people.
Pre-Bezos, the Washington Post was a reputable publication. Post-Bezos, it became an obnoxious social justice blog full of clickbait headlines, fake news and promises of bringing down Trump.
Would Powell's Emerson Collective have the same impact on the Atlantic? Who knows. Jobs is less likely to be clickbait viral driven than Bezos. But will the Atlantic continue to offer a voice of support for free speech when the usual social justice crybullies begin protesting the Emerson Collective and her appearances for "literally" endangering them?
I wouldn't bet on it.
Jobs bought into the Atlantic to push her social agenda and increase her prominence. The results probably won't be as catastrophic as Bezos' purchase of the Washington Post or the destruction of the New Republic, but expect changes.