Reports: Newsweek Sale To Sidney Harman

The New York Times and Politico report that the Washington Post Co will sell Newsweek to Dr. Sidney Harman, a 91-year old stereo equipment¬† magnate, philanthropist, and¬†husband of U.S. Rep Jane Harman (D-Calif.). The NYT reports that Harman began selling FM radios in the 1950s. Now, he’ll have to prove that a print newsweekly isn’t the equivalent of the phonograph. He’ll do it without longtime editor Jon Meacham, who’s going to leave. Harman is paying $1, and absorbing Newsweek‘s “considerable financial liabilities”. Newsweek, which has been redesigned as it switched from hard news to trends and analysis, lost nearly $30 million last year alone, (more…)

This article was printed from https://deadline.com/2010/08/report-newsweek-sale-to-sidney-harman-near-59010/