We Hear: Wash Post To Cover Newsweek Severance Payments For Up To A Year

A tipster tells us that Newsweek buyer Dr. Sidney Harman is getting something else for his $1 purchase of the struggling newsweekly: a number of “liabilities,” of course, like the fact that the magazine could lose $70 million just this year alone. But the Washington Post company reportedly threw in another sweetener: our tipster, who wanted to remain anonymous but has direct knowledge of the situation, tells us that Wash Post Co has offered to cover severance payments for any laid-off Newsweek staffers for up to a year.

This means that Harman has a long time to “kick the tires,” says the tipster.

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