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Newsweek For Sale
By
Jen Chung
Published May 5, 2010
Modified May 5, 2010
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By
Jen Chung
Published May 5, 2010
Modified May 5, 2010
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From Newsweek itself: "The Washington Post Co. announced today that it has retained Allen & Company to explore the possible sale of NEWSWEEK magazine. The newsweekly was launched in 1933 and purchased by The Washington Post Co. in 1961." Washington Post chairman Donald Graham said, "The losses at NEWSWEEK in 2007-2009 are a matter of record. Despite heroic efforts on the part of NEWSWEEK's management and staff, we expect it to still lose money in 2010. We are exploring all options to fix that problem. NEWSWEEK is a lively, important magazine and website, and in the current climate, it might be a better fit elsewhere."
Graham told Newsweek staffers the news during a conference call this morning; Washington Post says there was a "stunned silence." And the last time Newsweek was for sale was in 1961.
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Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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