Blog Post

WaPo Sells Newsweek To Harman; Announcement Coming This Afternoon

Stay on Top of Enterprise Technology Trends

Get updates impacting your industry from our GigaOm Research Community
Join the Community!

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

5 Responses to “WaPo Sells Newsweek To Harman; Announcement Coming This Afternoon”

  1. jill pollard

    This left wing rag can’t die soon enough. What will Hussein Obama do without this cheering squad?

    The last time I almost picked up a Newsweak, was in the doctor’s office, then I figured that I shouldn’t touch it because it was probably covered in germs—yup, just like it comes fresh off the newstands.

  2. TimT9999

    Lets not get confused. The real cost of the deal is 70 million– the amount that Newsweek owes. Of course, Harmon is probably more interested in the fact that Newsweek also owns Kaplan, an education company.