Confirming what was widely reported but never publicly acknowledged, a Washington Post (NYSE: WPO) SEC filing shows that billionaire Sidney Harman paid $1 in cash for Newsweek and also assumed about $47 million in liabilities. For those interested, the sale agreement details what Harman did and did not get in the sale. Among the items not included was an ownership interest in an Essex House apartment and artwork. Our founder Rafat Ali, who tweeted about the most recent filing, also went through many of those details when he posted excerpts from the Newsweek sale book earlier this year.
Credit: Flickr / Jim Parkinson