Wash. Post Company Chairman Sells Newsweek to Harman Because of Comfort with His 'Centrist Politics'

Newsbusters ^ | August 2, 2010 | Jeff Poor

[Rufus2007]

Although it's not clear if Sidney Harman made the best offer of the suitors vying to purchase Newsweek magazine, there is one reason that was made clear by Donald E. Graham, chairman of The Washington Post Co. (NYSE:WPO).

According to Mike Allen at Politico, Harman's bid was accepted by Graham partly because he felt comfortable with Harman's politics.

"Graham felt comfortable with Harman's centrist politics, and was comforted by the idea of selling to a stalwart of the Washington establishment," Allen wrote. "Harman is expected to preserve the serious-minded, essentially New-Democratic tone [outgoing Newsweek editor Jon] Meacham set for the magazine."

...more...

[Rufus2007]

Another chapter in the demise of Newsweek...

[FrankR]

Then I’ll just keep on NOT buying or reading it.

[Yossarian]

“Centrist Politics” is to the Washington Post...
...as “Trotskyism” is to a constitution-loving American

[manc]

Then I’ll just not buy it as per usual .

Newsweek is one of the more lefty lying kook mags out there right now and they say they will sell it to this guy for that reason, PLEASE my sides are splitting with laughter.

[Uncle Hal]

Harmon is the the husband of Democratic congresswoman Jane Harmon. He is 91 and she is 65. Guess who is going to inherit this publication and how it will lean politically.

[TopQuark]

"Harman is expected to preserve the serious-minded, essentially New-Democratic tone "

Up until today, they claimed to be nonpartisan.

[RinaseaofDs]

If it has to go to a Democrat, it could go to worse families than Jane Harman’s. If she had received the intelligence chairmanship that she should have got in the first place, this administration MAY have executed with a bit more sanity.

[Huskrrrr]

Charmin vs. Cottonelle

[Beowulf9]

Are they selling because they are losing money with that leftist view? Then to continue on with the same view seems to ensure the next owner will also go broke

[b4its2late]

Newsweak will continue to tank.

[MarineBrat]

I’m going to run out and not buy one right now.

[pepsionice]

Here’s the thing....it hasn’t achieved a profit in years. It’s hard to envision how this new team will twist the Newsweek team into some kind of profit. If it’s unable to level off and at least show marginal gains....then it’ll be sold again within three years....probably for half what they paid for it.

[lbryce]

The term shuffling desk chairs on the Titanic was created specifically for this instance in the way the MSM is gonna be hitting the proverbial iceberg any time soon.

I bid you, the MSM, a very fond not-ever-to-be-missed-collective-farewell as you all sink beneath the ocean of truth, justice and the American Way! BUWAHAHAHAHHAHAHAHAHHAHA!

[USFRIENDINVICTORIA]

Isn't there some law that requires the officers of a publicly traded company NYSE: WPO)to act in the best interest of shareholders. Were the shareholders asked if they wanted to accept a below market-value price for Newsweek? IOW, if they wished to contribute to a subsidy for disseminating leftist propaganda.

[USFRIENDINVICTORIA]

Isn't there some law that requires the officers of a publicly traded company NYSE: WPO)to act in the best interest of shareholders. Were the shareholders asked if they wanted to accept a below market-value price for Newsweek? IOW, if they wished to contribute to a subsidy for disseminating leftist propaganda.

[kcvl]

active member of the Program on Technology, Public Policy, and Human Development at the John F. Kennedy School of Government at Harvard University. 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.

trustee of the Martin Luther King Center for Social Change

He is married to Jane Harman, a congresswoman from California.

[Wyatt's Torch]

Their Board has to approve the sale. Shareholders can sue the Board if they think the sale was not “in their best interests”.

[kcvl]

Sidney Harman, founder of Harman Industries, a $3 billion producer of sound systems for luxury cars, theaters and airports. Mr. Harman maintains a library in each of his three homes, in Washington, Los Angeles and Aspen, Colo.

[samadams2000]

I guess the WPO shareholders dont care if they are a for profit company or not.?.? He sold it to the lowest bidder?? Unbelievable.

[Timocrat]

Indeed there is and they might get away with some rubbish about pursuing a left wing editorial policy while they own the magazine but they have a duty to get the best price when disposing of a property.