Update: According to The Awl, Newsweek editor Jon Meacham said he will try to make a bid to buy the magazine himself after lining up financiers.
The Washington Post Co. has announced that, give multi-year losses, they are “exploring” whether they should sell Newsweek.
Said Donald E. Graham, the company’s chairman:
The losses at Newsweek in 2007-2009 are a matter of record. Despite heroic efforts on the part of Newsweek‘s management and staff, we expect it to still lose money in 2010. We are exploring all options to fix that problem. Newsweek is a lively, important magazine and website, and in the current climate, it might be a better fit elsewhere.