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| Harman family out as Newsweak finds new sucker |
| 2012-07-25 |
| Hat tip from The Other McCain The family of late billionaire stereo magnate Sidney Harman has stopped investing in the Newsweek Daily Beast Co joint venture that it co-owns with Barry Diller's IAC/InterActiveCorp, according to representatives of both companies. IAC said it continues to subsidize Newsweek Daily Beast's operations, and as a result its initial 50 percent interest in the joint venture has grown into a controlling stake. The Harman family confirmed its ownership stake has been diluted by its decision to cap contributions to the loss-making venture, but would not give a figure. The family plans to maintain a minimum level of ownership in the venture, according to a source familiar with the situation. |
| Posted by:badanov |
| #8 pretty soon they'll just be daily email "blasts" you can't unsubscribe from |
| Posted by: Frank G 2012-07-25 21:39 |
| #7 his company announced that Newsweek would soon go digital only. To paraphrase a certain ersatz rock group, Newsweek isn't retrenching. They're merely aiming for a more selective audience. |
| Posted by: Pappy 2012-07-25 21:36 |
| #6 That's not the question; the question is, when did you ever see one anywhere else? |
| Posted by: Thing From Snowy Mountain 2012-07-25 19:02 |
| #5 When was the last time you saw a Newsweek in a doctor's waiting room? Nobody reads it anymore. This move will just increase the population of people who don't read it. |
| Posted by: crosspatch 2012-07-25 18:19 |
| #4 Digital only? What are they going to do, buy iPads or Kindle Fires for all the doctor's waiting rooms? |
| Posted by: Thing From Snowy Mountain 2012-07-25 17:47 |
| #3 diller is not a total sucker, his company announced that Newsweek would soon go digital only. From digital only to oblivion is the step after that but they didnt announce that |
| Posted by: lord garth 2012-07-25 13:20 |
| #2 When I first saw this story the other day (Drudge?) I read the headline "Diller takes over the Beast" and thought, 'Well maybe Phyllis can bring a little class to the operation'. |
| Posted by: Shack Lumumba3836 2012-07-25 11:31 |
| #1 barry diller is a lifelong democrat and contributor to various political causes and according to some, he is an extremely unpleasant person as well |
| Posted by: lord garth 2012-07-25 00:13 |