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August 02, 2010
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Washington Post favours audio tycoon's bid for Newsweek

NEW YORK - A bid by Sidney Harman, a California billionaire who made a fortune in audio equipment, is reported to be a serious contender to buy Newsweek as the Washington Post Company pushes ahead with the sale process.

Washington Post favours audio tycoon's bid for Newsweek
According to Harman is in the running along with at least two other parties: Fred Drasner, a former publisher of the New York Daily News, and Democratic Party donor and hedge fund owner Marc Lasry.

Newsweek was following sustained advertising and circulation losses.


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