Washington Post Co. to Sell Newsweek

Newsweek reports:

The Washington Post Co. announced today that it has retained Allen & Company to explore the possible sale of Newsweek magazine. The Newsweekly was launched in 1933 and purchased by The Washington Post Co. in 1961. 

“The losses at Newsweek in 2007-2009 are a matter of record.  Despite heroic efforts on the part of Newsweek’s management and staff, we expect it to still lose money in 2010.  We are exploring all options to fix that problem,” said Donald E. Graham, chairman of The Washington Post Co.

Wednesday, 5 May 2010