Newsweek Bids, Round Deux: Disinterest And Advice
A busy week for Newsweek as the magazine finds itself in the midst of round two of bidding as it enters “management presentations.” So far, it’s been revealed that at least four potential buyers have made their bids: Newsmax Media, Ritchie Capital CEO Thane Ritchie, and auto entrepreneur Fred Drasner.
It isn’t clear whether OpenGate Capital, which owns the TV Guide Company, finally presented a bid, although they’d been rumored to be among those vying for the weekly magazine.
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