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13 Nov 2010 14:37

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Biz: Newsweek/Daily Beast merger: “like a bad Nora Ephron movie” if it fails

  • Married people disagree all the time. One of them walks out of the room and says, ‘Never talk to me again.’ Then they sleep it off and one sends the other flowers. We realized that there was much more that connected us than separated us.
  • Newsweek owner Sidney Harman  • Explaining the dynamic between the ownership of his Newsweek and that of the Barry Diller-owned Daily Beast. One anonymous source described the potential failure of the collaboration being “like a bad Nora Ephron movie.” Will the collaboration turn out like “Sleepless in Seattle,” “You’ve Got Mail,” or “Bewitched”? All we know is that we’ll have what they’re having.  source
Posted by Ernie Smith • 0 Comments • Permalink

12 Nov 2010 20:55

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Biz: Newsweek’s Daily Beast merger: Two money-losers, one with momentum

  • $10M the amount The Daily Beast is on track to lose this year; it’s relatively new, so that’s not bad
  • $20M the amount Newsweek is on track to lose; it’s been bleeding for a long freaking time
  • $1 the amount Sidney Harman spent to buy Newsweek; he also took on all its debt source
  • » Is this a deal just to get Tina Brown? It wouldn’t be unprecedented. See, Brown, a longtime magazine editor for Vanity Fair and The New Yorker, has the chops to help make Newsweek a success again, and Barry Diller’s Daily Beast, while growing at a nice clip (5 million online readers a month, which means that nowadays, it’s probably read about as widely as Newsweek, which sells 1.6 million print copies – significantly down from just a year ago), probably needs a print component to anchor its Web efforts and ensure profitability. And plus, NBC Universal bought Barry Diller’s USA Network back in 2001 basically to get Diller.
Posted by Ernie Smith • 0 Comments • Permalink

12 Nov 2010 10:37

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Biz: Newsweek, The Daily Beast become singular corporate beast

  • Nothing more to add to this, really. Good luck guys. source
Posted by Ernie Smith • 0 Comments • Permalink

03 Aug 2010 00:00

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Biz: Newsweek’s sale was for a bargain-basement price (and lots of debt)

  • $1 the amount Sidney Harman will pay the Post for Newsweek
  • $70M the amount of debt Harman will take on in exchange for the price
  • 250 the number of the mag’s 325 employees Harman will keep source
Posted by Ernie Smith • 0 Comments • Permalink

02 Aug 2010 23:59

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Biz: More on Newsweek buyer: His wife is a congresswoman

Sidney Harman is 91? He doesn’t look a day over 80. His wife, Jane, by the way, represents the 36th district of California. She’s the second-richest House member. source
Posted by Ernie Smith • 0 Comments • Permalink

02 Aug 2010 23:47

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Biz: Newsweek bought by a guy who knows something about white noise

  • A stereo tycoon will now own Newsweek. The Washington Post Company, in an effort to get rid of deadwood, tried selling their long-standing Time adversary, Newsweek, and tonight, word’s leaked out that they succeeded. And what better choice for a new boss than 91-year-old Sidney Harman, a stereo company owner who we’re ensured doesn’t have a tin ear. His plans for the product include amplification of online content, noise-cancellation of the editorial pages, and finding the right pitch for a publication that has struggled of late to find its way. Newsweek will be singing a new tune after tonight! source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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