Bunch of Wackos Bid on Newsweek

The bids are in for Newsweek! Who wants to be the next owner of this classic American magazine, now that the Washington Post Co. has acknowledged it will never make a penny? A diverse group of...interesting people.

  • Newsmax Media: The wacko conservative owners of Newsmax, who assure everyone that no, they would not meddle in Newsweek's politics, etc, why would you even think such a thing? This would be funny for the raft of pinko liberals who make up Newsweek's staff.
  • OpenGate Capital: Private equity guys who already own TV Guide, another once-great, financially collapsed media property. TV listings in Newsweek? Or, news in your TV listings? Synergy!
  • Ritchie Capital Management CEO Thane Ritchie: He's bidding on his own behalf, rather than on his company's behalf, because his company would probably like Newsweek to "make money," and other overly onerous things. Thane Ritchie is a big Perot supporter! Good?
  • Sidney Harman: The 91 year-old owner of a stereo equipment company says he's "interested in exploring a potential bid." Good for him for staying active.
  • Jon Meacham's billionaire pals?????: The Newsweek editor was talking about getting his own group of rich guys to bid on the magazine. So where's that bid? Meacham told Bloomberg he's "still exploring options." Jon Meacham, tell your imaginary friends to hurry up!

As far as "handicapping the race," ehhh... probably whoever bids the most money.

[NYT, Bloomberg]