The story
Founded by David Seymour, George Rodger, Henri Cartier-Bresson, Maria Eisner, Robert Capa and William Vandivert on Apr 27, 1947.1
Magnum was founded in Paris in 1947 by Robert Capa, David "Chim" Seymour, Henri Cartier-Bresson, George Rodger and William Vandivert (all photographers), Rita Vandivert and Maria Eisner, based on an idea of Capa's. (Seymour, Cartier-Bresson and Rodger were all absent from the meeting at which it was founded. In response to a letter telling him that he was a member, Rodger wrote that Magnum seemed a good idea but, "It all sounded too halcyon to be true," when Capa had told him of it and, "I rather dismissed the whole thing from my mind".)
Rita Vandivert was the cooperative's first president and head of the New York office, while Maria Eisner headed the Paris office. The plan was for Rodger to cover Africa and the Middle East; Cartier-Bresson to cover south and east Asia; Seymour and William Vandivert to cover Europe and the United States, respectively; and Capa to be free to follow his curiosity and events.
Magnum is one of the first photographic cooperatives, owned and administered entirely by members. The staff serve a support role for the photographers, who retain all copyrights to the photographs they take.
The Magnum cooperative has included photojournalists from across the world who have covered many historical events of the 20th century. The cooperative's archive includes photographs depicting family life, drugs, religion, war, poverty, famine, crime, government and celebrities.
Although it has been asserted that the name "Magnum" was chosen because the founding members always drank a bottle of champagne during the first meetings, Russell Miller writes:
It was... presumably agreed by those present [at the first meeting] that Magnum was a fine new name for such a bold new venture, indicative as it was of greatness in its literal Latin translation, toughness in its gun connotation and celebration in its champagne mode.
From Wikipedia’s article on Magnum Photos, shared under CC BY-SA 4.0.4