US News is not for sale. Wealthy owner Mort Zuckerman wants to keep the magazine, he just does not want to print it, so the publication will go completely online next year. December will be the magazine's last issue.
Newsweek's former editor-in-chief just happens to be a Pulitze Prize-winning author for Random House, so it's no surprise he's landing there. It's also another example of how the publisher keeps reaching for big names to add to its editorial ranks.
Combining Newsweek and the Daily Beast wouldn't have been as big of a debacle as New Coke, but it would have been awfully close. Beyond the clashing egos, it was never made clear how combining the organizations would allow them to become profitable.
As the talent drain at Newsweek continues, the nagging question remains: Who can turn this around? It won't be former New Yorker editor Tina Brown.
Congratulations, Sidney Harman! You are now the proud owner of Newsweek, an iconic if vastly unprofitable magazine. It's a purchase that should come with an owners manual, and now it does.
Washington Post Co. got what just it wanted: Someone else to take the blame for killing Newsweek. Of all the bidders, the 91-year-old audio-gear mogul is least likely to make the changes needed for long-term survival.
The Washington Post Co. probably isn't going to get much more than a token $1 when it sells Newsweek. But it's being awfully choosy about where that dollar comes from.