Newsweek is sold!


“The Washington Post Co. said Monday it has sold struggling Newsweek magazine, which it has published for half a century, to audio industry pioneer Sidney Harman.” –Washington Post sells Newsweek to stereo mogul, CNN

CNN reports that Newsweek has been sold to an audio industry magnate. The terms of the deal have not been disclosed, but the new owner may be on the hook for financial obligations totaling tens of millions of dollars. Sidney Harman pledges “to continue to produce a lively, compelling and first-rate news magazine, but also an equally dynamic” This comes after a Chinese group’s recent failed attempts to buy the magazine.

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