Deal For Newsweek Close To Completion (Liberal millionaire to buy dying magazine for $1)

NY Times ^ | 8/2/10 | JEREMY W. PETERS

[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.

[Dr. Sivana]

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."

You're right. I suspect that the folks who bleat about the actvities of Mrs. Chief Justice Roberts and Mrs. Justice Thomas will be quiet about this.

[GQuagmire]

One Dollar...

[Lazamataz]

OMG!! A CONGRESSWOMAN WILL OWN NEWSWEEK!!

.....and this will change the incredible bias, how, exactly?

[jimbo123]

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.

[frog in a pot]

Was it Steve McQueen with the line:

“You paid too much.”

[TheClintons-STILLAnti-American]

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.

[Billthedrill]

Q: Why would anyone pump "tens of millions of dollars" into a failing enterprise that is looking for "a more successful approach?"

A: Because it's worth it. It's a propaganda organ. It doesn't have to make money.

[The_Victor]

How on earth can they claim there is NO bias at WaPo? Seriously. How?

I was pretty sure they completely abandoned that claim in 2008.

[bcsco]

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.

[jimbo123]

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.

[PackerBronco]

$1?

That’s a lot for bird cage liner ...

[gaijin]

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.

[dirtboy]

Soon to be an ex-millionaire...

Kinda like the old joke, How do you make a small fortune in auto racing? By starting with a large one.

[Red Badger]

He overpaid...................

[6SJ7]

"I'd buy that for a dollar!"

[rightwingintelligentsia]

Jane Harman is 65, and her husband is 92? I’m sure that was a love match.

[Kozak]

I’d pay 10$ just for the ability to fire all the staff....

[jimbo123]

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.

You are exactly right. The so-called "journalists" don't have a clue, but Gay Pinch knows that 1 out of every 2 current NY Times employees will not have a job at the rag in 5 years.

[Avid Coug]

Look for more cutting edge stories glorifying the wonderful brilliance of Dear Leader and his teachings. Every week.

[Truth is a Weapon]

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.