Newsweek for sale

A quick note on media... Don Graham of The Washington Post Company announced this week to a shocked magazine staff that Newsweek was for sale. Most of these things are done behind closed doors. A new owner is simply announced and the staff takes a deep breath and soldiers on.

Don's Mother, the legendary Kay Graham, purchased Newsweek in 1961. At one time, the magazine had more than 4 million subscribers. Now, it is reduced to only 1.5 million paying copies. It is sad to see another publication head down the path blazed by U.S. News, Life, The Saturday Evening Post, and Look.

This Intenet do-dad thingie is changing the business of sharing information. Graham said Newsweek lost tens of millions of dollars during the past several years. The biggest piece of The Washington Post Company is not publications or TV or even cable. The biggest revenue generator is Kaplan University... a mostly online education company.

Times do chance. For the full story on the Newsweek pending sale... Click here:

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