• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
MENUMENU
  • About
  • Send News Tips

Media Moves

Covering Latinos in the Media Industry

MENUMENU
  • Home
  • About
  • Send News Tips
  • People
  • TV & Radio
  • Programming
  • Print
  • Digital
  • Job Board
  • Archives

Bids for Newsweek

July 2, 2010 by Veronica Villafañe

Distressed magazine Newsweek, which the Washington Post Co. put up for sale in May, got several bids by yesterday’s 5 pm deadline.

According to BusinessWeek, media executive Fred Drasner and investment firm Avenue Capital Group submitted separate offers to buy the magazine.

Drasner is a former exec at U.S. News & World Report and The New York Daily News. Avenue Capital specializes in distressed assets.

Politico is also reporting industrialist Sidney Harman, husband of Rep. Jane Harman and Marc Lasry, a hedge fund founder, are leading contenders for the mag. According to the Politico reporter Newsweek both men are “establishment stalwarts who are interested in Washington and global influence,” so the mag won’t go all-digital.

A decision could take weeks. It’s expected the buyer will have to make personnel cuts. Newsweek currently has 150 editorial and 200 business staffers.

Filed Under: People

Reader Interactions

Comments

  1. gserrano says

    July 12, 2010 at 5:49 PM

    I used to be a Newsweek (plus other news magazines) subscriber but I have to read alternative media when I discovered that most of the American magazines only play a kind of official script. Where are the journalists that went after the news and provided insight comments and analysis?

Primary Sidebar

Veronica Villafañe, Editor & Publisher

Emmy award-winning journalist and former president of the National Association of Hispanic Journalists (NAHJ). Currently a reporter for Voice of America, she has worked as an on-air reporter, anchor, writer and producer for Spanish and English-language TV, print and online media, including Univision, Telemundo, Fox 11 News in L.A. and the San Jose Mercury News.

Hispanic media and entertainment contributor to Forbes.

Full bio here
CNN en espanol logo

CNN en Español will cut linear programming and jobs, shift production to Mexico City 

June 1, 2023

Hugo Magallan

Hugo Magallán returns to KNVO for launch of midday show

May 31, 2023

Adrian Miro

Telemundo Nuevo México adds meteorologist Adrían Miró

May 30, 2023

Maria Paula Ochoa

María Paula Ochoa lands anchor role at Univision San Diego

May 24, 2023

Mike Gaytan

Mike Gaytán to take over as KVEA 52 VP of News

May 23, 2023

VIEW ALL ARTICLES

Secondary Sidebar

Media Moves is a mission-driven digital publication aimed at raising the visibility of Latinos in the media. Since its inception in 2007, the site has covered thousands of stories. To keep moving forward, we need your help. That’s why we launched a crowdfunding campaign.

Learn more about why Media Moves needs your support here.

You can contribute to the campaign clicking the button below.

SUPPORT MEDIA MOVES
Get the week’s stories in your inbox. The Media Moves Wrap newsletter is sent Friday mornings.
SUBSCRIBE
Veronica Villafañe, Editor & Publisher

Emmy award-winning journalist and former president of the National Association of Hispanic Journalists (NAHJ). Currently a reporter for Voice of America, she has worked as an on-air reporter, anchor, writer and producer for Spanish and English-language TV, print and online media, including Univision, Telemundo, Fox 11 News in L.A. and the San Jose Mercury News.

Hispanic media and entertainment contributor to Forbes.

Full bio here
Copyright © 2023 Media Moves · All Rights Reserved | Terms of Use | Privacy Policy