Newsweek Sale Imminent
The New York Times is reporting that the Washington Post Co. and billionaire Sidney Harman could have a deal done today for the weekly magazine.
According to the NYT, “One person familiar with the sale process confirmed that the purchase was all but complete, and that The Post was poised to reveal the news imminently.”
This is great news for Newsweek employees because Harman was reportedly willing to keep a majority of the magazine’s 325 employees. It’s an ideal fit, considering WaPo was adamant about finding a buyer that would keep the magazine largely intact.
UPDATE: Ad Age reports that WaPo and Harman have inked
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