Sunday, August 8, 2010

(NEWS) Newsweek Magazine Bought By 91 Year Old Zionist Billionaire Sidney Harman

"The Washington Post Company announced today that it has signed a contract to sell NEWSWEEK to Sidney Harman, a successful businessman who made his fortune in audio equipment and is a well-known philanthropist.

Harman, 91, the founder and chairman emeritus of Harman International, was one of several bidders for the magazine, according to sources familiar with the process, and the deal was not concluded until today, even as some of the interested parties upped their bids this morning.

The bidders included businessman Fred Drasner, a former partner of Mort Zuckerman in running U.S. News & World Report and the New York Daily News; Marc Lasry’s Avenue Capital Group, a hedge fund with a stake in America Media Inc., the publisher of The National Enquirer and Star magazine; and several unnamed American and foreign companies. A source close to the deal said the magazine will be purchased by the Harman family and it will not have an association with Harman International."

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