Two Bidders Out As Today’s Newsweek Deadline Looms

As today’s 5 p.m. deadline for the final Newsweek bids approaches, The New York Times notes this morning that, according to sources who elected to remain anonymous, two of the rumored bidders are out of the running.

The sources claims that, like a single New Yorker whose mother believes is much too picky and will eventually die alone Newsweek parent the Washington Post Co. has rejected a bid from the owners of conservative magazine Newsmax and from hedge fund manager Thane Ritchie. They explained that Newsmax‘s political bent is at odds with Newsweek‘s attempts to remain, at least in theory, mainly apolitical. In the case of Ritchie, the sources believe that his libertarian viewpoints may have influenced the Washington Post Co’s decision to reject him as a potential suitor.

The Wall Street Journal‘s report on the bidding process takes a slightly different tone, describing Ritchie as having “backed out” of the bidding process. In fact, according to his spokesperson, he “has decided” not participate in bidding for Newsweek after weeks of discussions.

And over at the New York Post, Keith Kelly continues pointing former Daily News co-owner Fred Drasner as most likely to take this whole thing. Drasner is said to be teaming up with Paul Ingrassia, formerly with Dow Jones, and Fast Company co-founder Alan Webber.