Newsweek was sold to the founder of the Harman Group for 1 dollars.

According to Newsweek, The Washington Post Company has announced that it has signed an agreement with Sidney Haman founder of the United States, agreeing to sell Newsweek at a low price of 1 dollars. Newsweek was founded on February 17, 1933, in 1961, when the Washington Post company funded the purchase. Donnald Greheum, chairman and chief executive officer of the Washington Post Company's board of directors, said: "In the search for Newsweek's buyers, we have been hoping to find a buyer who is as focused on journalism as we are." We found that the man was Haman. "The Washington Post company did not disclose the terms of the deal and the exact amount of the sale of Newsweek," the report said. But people familiar with the insider's deal said Harman agreed to pay a small amount of cash to--1 the dollar and promised to take on part of the journal's debt. The Washington Post Company will continue to keep Newsweek's employee pension assets and specific employee debt. Newsweek's chief editor, Joen Mitcham, announced that he would resign after the deal was completed and that he was not yet in a position to replace him.　　Newsweek chief executive Tom Assim will remain in office. The 91-Year-old is a successful businessman who started his business with audio equipment, also known as a philanthropist, he is one of Newsweek's several bidders, and other bidders include hedge fund managers, Mark Lasrie, who owns shares of American media companies with the National Enquirer and Star magazine publishers. US News and World Report partner, former publisher of New York Daily News Frede Drasna, and several other unnamed Americans and foreign companies. The magazine will be bought by the Harman family, but will not become an adjunct to Haman International. (Shen Hua)