Harman Family to Keep Stake in Newsweek

When news of Sydney Harman passing away broke early yesterday, the first question on everyone’s mind was “What’s going to happen to Newsweek?” It appears not much will change, at least for now, because The New York Times is reporting that the Harman family will keep its stake in the faltering title.

Barry Diller, Harman’s partner, will assume Harman’s role in the Newsweek/Daily Beast Company, and with the family vowing not to give up, the next step is to find a person to fill Harman’s place on the company’s board. That person is rumored to be Harman’s 29-year-old son, Daniel:

‘Sidney would say that Daniel could be a big asset,’ said one person who spoke with Mr. Harman about his son’s possible role in the company. The person spoke anonymously because the conversation was supposed to remain private. ‘All of us took that to mean that he was the person that was most likely to be involved from the family.’

Hopefully Daniel has some good ideas about how to turn around Newsweek, because as we’ve pointed out, help is desperately needed.