Ever since news broke that the Washington Post Co. was putting Newsweek on the market, there’s been lots of speculation about who — if anyone — will make a play for the money-losing magazine. Newsweek editor Jon Meacham only amped up the media guessing game by claiming that “two billionaires” had already reached out to him.
In an interview with Yahoo! News, Meacham said that “all this interest, all this churn, all this commentary, is a sign that there is cultural relevance here.” And while he claimed to be “both pleased and humbled by the level of at least exploratory interest from a number of people,” he also declined to comment on exactly who those people were.
But a media-generated shortlist of potential buyers is sure to sprout up, regardless of whether Meacham chooses to name names. And whenever a major publication is up for sale, you look to the usual suspects, such as News Corp. chief Rupert Murdoch. Paul Wachter argued on AOL News today that Murdoch should buy Newsweek and turn it into a weekend supplement for the Wall Street Journal in its continuing battle with the New York Times.
Advertisement – story continues below
It’s an interesting idea, but don’t bet on it. A News Corp. spokesperson tells Yahoo! News that there are “no plans to bid” on Newsweek.
It’s not too surprising that Murdoch isn’t kicking the tires this time around, given that now he’s dumping millions into the Journal, and last year unloaded a weekly magazine, The Weekly Standard, to fellow billionaire publisher Philip Anschutz. A source close to Anschutz tells Yahoo! News that the sports, entertainment, and media mogul isn’t planning to bid on the beleaguered newsweekly, either.
Read More: Yahoo News