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.
.....and this will change the incredible bias, how, exactly?
He’s going to cut 35% of the staff, but will still lose at least $10=$15 million a year after the cuts. I would assume WaPo will assume the Newsweek pension liabilities as part of the deal.
Was it Steve McQueen with the line:
“You paid too much.”
At least the magazine and its new owner have something significant in common besides being on the wrong side of spiritual warfare: They’re best days are long past.
A: Because it's worth it. It's a propaganda organ. It doesn't have to make money.
I was pretty sure they completely abandoned that claim in 2008.
During the Bush administration, Jane Harman often came across as one of the more lucid Democrat politicians. Not by any great lengths, but more lucid.
That’s since changed and now, what with her husband assuming the liabilities of this rag, she’s lost any small modicum of respect I’ve had. Not because they now own it, because it makes no sense.
His goal is to keep Fareed Zakaria and his anti-American, pro-terrorist rantings in print for as long as possible. If Newsweek shut down, Fareed would have to get a job at Al Jazeera.
That’s a lot for bird cage liner ...
In 5 years there will be no Time magazine, and the NYT will be a hollow SHELL of it’s former self.
And to get it done WE DON’T HAVE TO DO ANYTHING.
And they KNOW it.
Kinda like the old joke, How do you make a small fortune in auto racing? By starting with a large one.
"I'd buy that for a dollar!"
Jane Harman is 65, and her husband is 92? I’m sure that was a love match.
I’d pay 10$ just for the ability to fire all the staff....
Look for more cutting edge stories glorifying the wonderful brilliance of Dear Leader and his teachings. Every week.
If he fires all of the biased journalists on staff and rebuilds based on the 1 or 2 remaining writers it might have a chance. If it were a true objective news magazine it just might survive for many years and return to profitability.
What’s this magazine? Weak News?? I’m not familiar with it.
“Dr. Harman is chairman of the Program Committee of the Board of the Aspen Institute for Humanistic Studies and a member of the Board of the Carter Center of Emory University. Dr. Harman served as the Deputy Secretary of Commerce of the United States in 1977 and 1978.”
And the opportunity to give them bad recommendations when their potential next employers call!
Q. How do you make a small fortune in the liberal print media?
A. Start with a large fortune.
This is simply the socialist response to talk radio - they can't get an audience, but need a soapbox.
......He is married to Jane Harman......
One wonders what a 91 year old could do to satisfy a 65 year old trophy wife...... buy her a moonbat rag
But Newsweek, The Washington Post, and the New York Times would scream bloody murder if a white couple selling their home refused offers from black people "whom they believed would lead the neighborhood in a markedly different direction". Oh, the hypocrisy!
“His goal is to keep Fareed Zakaria and his anti-American, pro-terrorist rantings in print for as long as possible. If Newsweek shut down, Fareed would have to get a job at Al Jazeera.”
Agree. This move takes liabilities off WAPO balance sheet, and most importantly, income statement and moves it to 2 hardcore pro-Israeli supporting Dems. WAPO may be a lot of things, but anti-Jew it ain’t. Harman and wife are both Jewish, with the wife Jane, the daughter of Jewish immigrants. She has been caught running interference for Israel during the AIPAC scandal. She is big on terrorism and did in fact support Bush on the WOT. On social issues she is a disaster, but given she represents LA, she is probably the best you are going to do there. She and hubby live in Venice, CA. Venice is one weird little beach town.
Sure there are many more, but the above were just laughable, even back in the '70's when I was young and clueless, especially that scientists had discovered there are inherent differences between the sexes. My wife and I looked at each other in amazement while raising our young son and daughter.
Personally, I hope Newsweak is passed around from liberal to liberal, costing each of them a hundred million dollars before moving on to the next sucker. That represents money burning a hole in their pockets anyway, that otherwise could have been spent making more trouble for the public, and undermining the country.
Shame on The Washington Post Company for stealing a dollar from a 91 year old.