Skip to comments.Deal For Newsweek Close To Completion (Liberal millionaire to buy dying magazine for $1)
Posted on 08/02/2010 9:42:12 AM PDT by jimbo123
A deal to sell Newsweek to a 91-year-old stereo equipment magnate could be announced as early as today, a move that would signal the end of a half-century of ownership by The Washington Post Company.
(Excerpt) Read more at mediadecoder.blogs.nytimes.com ...
Let it friggin’ die.
I am assuming that he is actually agreeing to assume the magazine’s debts, and therefore shelling out a lot of money.
But I will let the experts chime in.
I’ll double his offer:
That’s right, I’m offering a whole $2 for ownership of the magazine.
So, let me get this straight.
WaPo, who is bleeding red ink, sells Newsweak for $1 instead of getting some value from it from the conservative media company who was prepared to bid MUCH more.
Abandoning business good sense for the sole purpose of maintaining Newsweak as a leftist microphone.
How on earth can they claim there is NO bias at WaPo? Seriously. How?
$1? He’s paying too much.
Who would want to underwrite millions of dollars in debt to a 91 year old?
I haven’t bought a copy of Newsweek in 15 years! What a joke. But Hussein and Pelosi shouldn’t let liberal magazines have financial troubles. Newsweek needs a taypayer funded bailout! And while we’re at it, bring in the “Fairness Doctrine” to put the only media companies making money out of business - the conservative ones.
We so need a revolution. I hope the November election will be the start of one.
A guy with a last name like Harmon ran JBL and Infinity? Next I’ll find out that the guy who runs Acer is named Hewlitt.
So Newsweek would not sell to “conservative” owners. They picked a 91 year old “liberal”.
What happens when he dies? Does it goes to his heirs? Will it be back on the selling block in a year?
This virtually ASSURES that Newsweek's political covergae will continue to be unbiased. /s
“What the sale to Mr. Harman suggests, perhaps more than anything else, is that the right owner for a struggling media property like Newsweek is someone who can afford to lose tens of millions of dollars a year while the magazine tries to find a more successful approach.”
Harman, who is tight with Mortimer Adler’s LEFTIST Aspen Institute, will probably keep this rag moving LEFT, guaranteeing it’s ultimate demise.
Now that IS good news!!
If the 91 year old dies next year, his relatives would only get 45% of Newsweek.
I hope they’ll continue to send it for free the EyeGuy Health complex.
Got fish to wrap, fires to start and bird droppings to catch.
The family of the demented 91 year old should sue Newsweek for stealing their inheritance.
No, but this is interesting: "He is married to Jane Harman, a congresswoman who represents Southern California. He is also active in the Aspen Institute, a nonprofit, public policy research organization led by Walter Isaacson, the former editor of Time."
OMG!! A CONGRESSWOMAN WILL OWN NEWSWEEK!! geesh.
Hear’s hoping he goes broke.
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