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April 19, 2011
9:02 // 2 years ago
April 13, 2011
Sidney Harman, he of late-blooming media empire: Last August, audio mogul Sidney Harman bought Newsweek from The Washington Post Company, setting the stage for the blockbuster merger of the magazine with The Daily Beast (that’s Tina Brown tweeting above). He was 91 at the time. Before this, he was largely known for being one of the men behind the modern speaker. His Harman Kardon corporation, founded in the 1950s, was responsible for selling some of the first high-fidelity stereo speakers to large audiences. He also put in some time as a top Commerce official under Jimmy Carter, and his wife is former Democratic Rep. Jane Harman. He lived a pretty full life. He died last night at 92. source

Sidney Harman, he of late-blooming media empire: Last August, audio mogul Sidney Harman bought Newsweek from The Washington Post Company, setting the stage for the blockbuster merger of the magazine with The Daily Beast (that’s Tina Brown tweeting above). He was 91 at the time. Before this, he was largely known for being one of the men behind the modern speaker. His Harman Kardon corporation, founded in the 1950s, was responsible for selling some of the first high-fidelity stereo speakers to large audiences. He also put in some time as a top Commerce official under Jimmy Carter, and his wife is former Democratic Rep. Jane Harman. He lived a pretty full life. He died last night at 92. source

10:23 // 3 years ago
November 13, 2010
14:37 // 3 years ago
November 12, 2010

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.

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20:55 // 3 years ago
Newsweek, The Daily Beast become singular corporate beast
Nothing more to add to this, really. Good luck guys. source
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10:37 // 3 years ago