Graydon Carter, who stepped down last year as editor of Vanity Fair after a 25-year run, plans to launch his own media venture, according to the New York Post.
The multi-plaform effort, which will initially focus on European high society, A-listers, celebrities and media hounds, is expected to launch by the end of the year.
Carter's people are in discussions with San Francisco private equity firm, TPG Capital, to help bankroll the new venture. TPG owns a stake in Vice Media.
The Post reports that Carter attempted to buy VF from Conde Nast before he resigned from the magazine, with financial support from TPG.
Carter, 68, is expected to return to New York next month from France, where he's been working on a book.