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.