Back in August 2010 Sidney Harman, husband of California Democrat (pardon our redundancy) Congresswoman Jane Harman, bought Newsweek for $1.00. It appears now that he may have overpaid.
New York Magazine tells the tale of journalistic assisted suicide:
Right now if you go to newsweek.com, you’ll see a basic magazine website, updated with content from the print version of the mag and a top navigation bar that directs you to content on its sister site, dailybeast.com. But starting July 19, we hear, newsweek.com will no longer exist. Instead that URL will redirect users to a channel on the Daily Beast site, like its current “politics,” “entertainment,” and “fashion” verticals. The Newsweek channel will still have all the archived magazine content from before (unlike Time, Newsweek puts all of its print content online), and it will be edited and updated once a day to rotate features. Newsweek/Daily Beast editor Tina Brown and Chief Digital Officer Daniel Blackman decided it made the most sense to have all-new non-magazine content appear on the Beast homepage. As it is, that’s how the system has been working for some weeks now, but the death of the newsweek.com URL marks the official end of what was once a fully staffed and hugely trafficked site in its own right.
IHateTheMedia.com will offer Harman $2.00 right now for the Newsweek.com url. No questions asked. No strings attached.
What do you say, Sidney? It’s not often you can double your money on a bad investment.
We’ll just sit here and wait for the phone call.
Source: New York Magazine
