WaPo Sells Newsweek To Harman; Announcement Coming This Afternoon

As expected, The Washington Post Company (NYSE: WPO) will sell Newsweek to audio equipment impresario Sidney Harman, AdAge reported, and paidContent has confirmed. As we noted last week, the bid from the 91-year-old Harman, the husband of Democratic Congresswoman Jane Harman, had the most appeal to WaPo Chairman Donald Graham because the audio pioneer was willing to keep 250 of the 325 Newsweek employees on staff. As for the bid, Harman offered $1 and the acceptance of Newsweek