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Newsweek sold to nonagenarian Harman
By: Bill O'ReillyAugust 3, 2010
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STORY EXCERPT
The Wrap: It's done: The Washington Post Company has agreed to sell Newsweek to Sidney Harman. The Post and Harman, the 91-year-old audio equipment magnate, agreed to the deal on Monday. As TheWrap previously reported, Harman will pay a "small amount of cash" and assume the magazine's heavy deby load, an arrangement similar to TV Guide's 2008 sale to OpenGate Capital -- which was one of Newsweek's reported suitors.
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