From DAILYFINANCE.COM:
The Washington Post Co. has decided it no longer wants to own Newsweek. Will anyone else feel differently? …
It’s not an easy problem to fix. The Post Co.’s magazine publishing division, which consists chiefly of Newsweek, had an operating loss of $29.3 million last year and $16.1 million in 2008, according to the company’s annual SEC filing…
If Allen & Co. can succeed in finding a buyer for Newsweek, it will likely be the sort of transaction in which the Post Co. accepts a nominal sum just to rid itself of the expense of publishing a money-hemorrhaging weekly magazine. That has been the pattern with other mass-circulation weeklies that have changed hands in recent years. Macrovision sold TV Guide to OpenGate Capitol Macrovision for the token price of $1 in 2008…
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