In a sign that the media will attach just about any plausible name to Newsweek editor Jon Meacham’s efforts to buy the magazine he works for, Women’s Wear Daily reports today that Meacham was spotted at Michael’s restaurant with Steven Rattner, private equity investor and former “Car Czar” for the Obama administration.
The former Quadrangle Group executive — whose star has been severely tarnished by the investigation by the New York State Attorney General and the Securities and Exchange Commission into his involvement in a pension kickback scandal — certainly knows the print world since he was a reporter at The New York Times before moving into finance and since Quadrangle made several media deals while he was there. So perhaps Rattner is considering a move on his own or with others into the magazine business? He could certainly use some good press, even if he owns it.
Zing! Meanwhile, the Observer, citing “people familiar with the situation,” is saying that Politico and Thomson Reuters are kicking the tires on the ailing newsweekly.