Monday, August 2, 2010

Report: Newsweek To Go To Southern California Business Mogul

Reports this morning say that news magazine Newsweek apparently is being sold to Dr. Sidney Harman, the founder of Southern California's Harman International, which now owns the Harmon/Kardon, Infinity, JBL, and other audio equipment brands. Harmon--who is married to congresswoman Jane Harman--apparently is paying $1.00 for Newsweek, in exchange for assuming the magazine's substantial financial liabilities. Harman is also a professor at the University of Southern California, and is 92 years old. The New York Times says the deal is all but complete and expected to be announced today.

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