OpenGate Capital Weighs In On Newsweek Sale
Following The Washington Post Co.’s sale of Newsweek to stereo magnate Sidney Harman, Andrew Nikou, founder and CEO of rival bidder OpenGate Capital, issued the following statement.
OpenGate Capital made a significant bid for Newsweek and we felt we had a great strategy and plan for the magazine. Our transaction team, led by Jack Kliger, envisioned a strong Newsweek in the years to come and we regret that we won’t have the opportunity to take this iconic brand into the future.
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