Haim Saban, the Power Rangers Guy, May or May Not Buy Newsweek

Because another day has passed since The Washington Post Co. started taking bids on faltering septuagenarian magazine Newsweek, today we get another look at the prospective buyers.

Today’s big fish: Billionaire media mogul Haim Saban. He tells The Wall Street Journal that Washington Post CEO Donald Graham turned down his offer to buy the magazine two years ago. “I would be remiss if I didn’t look at it now, but the world has significantly changed in the last two years, and not for the better,” Saban told the Journal. Saban has been mentioned before as a possibility. Still, his comment sounds tentative.

Saban is most notable (in the eyes of FishbowlNY) for bringing “Mighty Morphin’ Power Rangers” to the U.S. He flipped the franchise to Disney in 2001, then very recently bought it back. Earlier this month, he also put $500 million into a new company, Saban Brands, which will buy consumer and entertainment brands.

It appears as though he’s in a buying mood. You know, sometimes when a guy’s in the market for a crass children’s action-hero franchise he can’t help himself when he sees an iconic U.S. newsweekly on the impulse rack. The only remaining question: if he gets his hands on the magazine, can he mighty morph it back to profitability?

(h/t Guardian)

Publish date: May 13, 2010 https://dev.adweek.com/digital/haim-saban-the-power-rangers-guy-may-or-may-not-buy-newsweek/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT