Newsweek Now Has At Least Three Official Suitors
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“Indications of interest” in Newsweek are in and the publication has at least three official suitors. Bloomberg says in a report that OpenGate Capital, Thane Ritchie and Newsmax Media all told the Washington Post Co. (NYSE: WPO) they were interested.
SEE ALSO: Newsweek Sale Book: First Bids Due By June 2; Complete Financials
Quick overview of the three confirmed interested parties: PE firm OpenGate Capital is best known for buying TV Guide Magazine for $1 in October 2008, it was also one of the four final bidders for BusinessWeek; Newsmax Media owns conservative news site Newsmax.com and its sister magazine; Thane Ritchie runs a hedge fund and failed in an attempt to buy the Chicago Sun-Times, he has also been trying to start a third major political party in the U.S.
No word yet on whether some of the other 70 entities who said they were interested, including Haim Saban and Newsweek editor Jon Meacham, came through. We’lll update when we hear more.
Posted In: Media & Publishing, Magazines, Money, M&A & Venture Capital, Mergers & Acquisitions, Companies, Washington Post, newsweek
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