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EXIT STRATEGY: The New York Observer will lose yet another top editor by the end of the year. Tom McGeveran, who took over as interim editor in May when longtime editor Peter Kaplan left to join Condé Nast Traveler, will leave to start a new business venture. McGeveran didn’t specify what that venture was, but did say it is something “I’ve been concocting for some time now.” McGeveran was well liked and had worked on nearly every section at the paper since he joined in 2000. He informed the staff Wednesday morning, and later sent a memo to them, per the New York Observer’s Web site. “We’ll have had our own chapter in the history of the Observer, and though it’s been short it is one of the happy ones. Person for person this is the best staff we’ve ever had here,” he wrote. Of late, the Observer has had its share of challenges, including several rounds of layoffs and budget cuts, but the salmon-colored tabloid has also launched a real estate weekly title, The Commercial Observer, and a parenting title, Observer Playground, and recently acquired Very Short List from Interactive Corp (IAC). A search is on for a successor, which McGeveran will help with. “Tom is a great editor and journalist and the Observer has been lucky to have benefitted from his talents for so long,” said owner, and newlywed, Jared Kushner.