For Sale: Ailing Newsweek

Washington Post Co. cites mounting losses
By Kevin Spak,  Newser Staff
Posted May 5, 2010 10:44 AM CDT
The cover of a 2009 Newsweek cover.   (PRNewsFoto/NEWSWEEK)

(Newser) – The Washington Post Company is looking for someone to take Newsweek off its hands, the company announced in a press release today (to the apparent surprise of Newsweek's Tumblr). “The losses at Newsweek in 2007-2009 are a matter of record,” said Donald Graham, chairman of the Post Company. “We expect it to still lose money in 2010. .. Newsweek is a lively, important magazine and website, and in the current climate, it might be a better fit elsewhere.” With a sales pitch that upbeat, it'll sell in no time.

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