My subscription to Newsweek Magazine expires next month. I’ve been receiving renewal notices but I threw them in the trash. I decided not to renew my subscription to Newsweek.
I’ve been an avid reader of Newsweek since high school and I’ve been a subscriber since the 1980’s. Use to be a really nice magazine. But something happened last year. They reinvented themselves. The magazine got smaller and instead of news articles there’s mostly opinion pieces in the magazine. Talk about boring. Even the website has changed and not for the better.
It was announced last month that the Washington Post sold Newsweek to businessman Sidney Harman, who made his fortune in audio equipment. He bought the magazine for $1.00. Yeah, that’s right $1.00.
As part of the ownership transition, editor Jon Meacham will step down.
The Washington Post Company announced today that it has signed a contract to sell NEWSWEEK to Sidney Harman, a successful businessman who made his fortune in audio equipment and is a well-known philanthropist.
Harman, 91, the founder and chairman emeritus of Harman International, was one of several bidders for the magazine, according to sources familiar with the process, and the deal was not concluded until today, even as some of the interested parties upped their bids this morning.
It will be interesting to see what changes Mr. Harman makes. But those changes won’t be coming to my mailbox anymore. I might check out Newsweek at the newstand just to see what’s going on. But I wonder if the print edition of Newsweek will even exist a few years from now.