Longtime Vanity Fair editor Graydon Carter stepping down

Vanity Fair says its longtime editor Graydon Carter is leaving the magazine at the end of the year after 25 years at the helm.

Carter became editor of the magazine, known for its coverage of celebrities, Hollywood, media and politics, in 1992. It's famous for its star-studded annual Oscars party.

Vanity Fair spokeswoman Beth Kseniak did not immediately answer questions Thursday about who would replace him.

Carter, born in Toronto, raised near Ottawa, says in a statement that he is "eager to try out this 'third act' thing" but did not specify his plans for the future.

Carter, a well-known figure in New York, is a book author, film and theater producer and restaurant owner.

After stepping down at the end of the year, the 68-year-old plans to "spend six months living in France with [his wife] Anna and the youngest of his five children, Isabella," according to a piece about his departure posted Thursday.

"After that, in the latter half of 2018, he will return to his adopted, beloved home country to begin his next chapter, refreshed and ready to #MakeAmericaGraydon'sAgain."