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The Bids Are In: Who Wants to Buy Newsweek?

The deadline to submit preliminary bids for Newsweek magazine was yesterday at 5pmET. Let’s take a look at who’s willing to take the plunge!

    Newsmax Media: Its two conservative owners publish an eponymous right-wing magazine and website. Notice a slight difference in political views? The owners have assured that they would not meddle in Newsweek’s politics.

    OpenGate Capital: This is the private equity fund that already owns TV Guide. Could such a deal lead to possible TV-magazine meshing?

    Thane Ritchie, CEO of Ritchie Capital Management: This hedge fund manager failed to buy the Sun Times Media Group last year. He is bidding on his own, not on his company’s behalf. According to the New York Times, Ritchie “has developed a reputation as something of a political provocateur in Illinois, most recently for his efforts to explore creating a third political party with supporters of Ross Perot.”

    Sidney Harman: The 91-year-old founder of stereo equipment company Harman Kardon said he is “interested in exploring a potential bid.”

    Newsweek‘s own editor, Jon Meacham, told Bloomberg he is “still exploring options.” For now, the magazine’s fate still seems up in the air.

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