"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."
Popular Posts
-
On the 1st April 2015, Iraqi born British Pro-Israel activist Orim Shimshon came to visit Israel and we invited him to give a talk to a roo... -
NOTICE: This article I submitted won in the quarter-finals of the Pro-Israel blog-off competition . When we seek information on new techn... -
NOTICE: This article I submitted won in the semi-finals of the Pro-Israel blog-off competition . During Yom Hashoah this year I ma...