Capital New York to go Behind a $1000/year Paywall

Saw the story yesterday and even thought about posting but didn't see the importance.
From Politico:

In an ambitious play for the New York market, POLITICO publisher Robert Allbritton has purchased the online news site Capital New York, with plans to make "a substantial investment" in the business and more than quadruple staff.

Capital, which was launched in 2010 by former New York Observer editors Josh Benson and Tom McGeveran, will now be led by POLITICO co-founder and executive editor Jim VandeHei, who will serve as president while remaining in his current role at POLITICO. Benson and McGeveran will remain co-editors.

The acquisition is Allbritton's first since he reached an agreement to sell his television holdings in July. His goal: to apply the POLITICO business model to New York City and "focus laser-like on New York and its power centers, including the media, city and state politics, culture and business."

"I have very big ambitions for this publication: to do in New York what we did in Washington with POLITICO," he wrote in a memo to POLITICO staff late Sunday night. "We are making a substantial investment to sharpen the focus of Capital and vastly expand its reportorial presence."...MORE

HT: Walter Russell Mead's post "Politico Publisher Shakes Up NYC Media Establishment"

And then came Bloomberg's headline "Politico Founder Sees $1,000 a Year Fee for Capital N.Y."
We like CNY, have linked to them ten times but I don't know if we like them that much.