Breaking: WaPo to Sell Newsweek

Photo courtesy of
‘Newsweek Logo Process – Jim Parkinson’
courtesy of ‘FontShop’

In a post to Newsweek, Washington Post Co., the magazine’s owner, has announced that it has retained a firm to guide the sale of the weekly newsmagazine. Newsweek has been around since 1933, and it was purchased by WaPo in 1961.  In the statement, Donald E. Graham, chairman of the organization, cited that the magazine has been losing money for several years, and stands to also lose in 2010 “despite heroic efforts on the part of NEWSWEEK’s [sic] management and staff.”

UPDATE 12:26: A report from The Awl indicates that Newsweek’s editor, Jon Meacham, is planning on lining up financiers to bid on the publication.

Dave Levy is a PR guy by day, a media researcher on the side and a self-proclaimed geek. He blogs often about how traditional media adapts – or tries to adapt – to the growing digital media world at State of the Fourth Estate. You can follow Dave on Twitter for various updates about everything from sports from his previous home in Boston to eccentric and obscure pop culture references. Read why Dave loves D.C.

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