Sidney Harman, the audio equipment magnate who is buying Newsweek from The Washington Post Co., told the Wall Street Journal last week that he’d be happy to break even in three years. Time, company sources say, is on track to earn a profit of more than $50 million this year.
Time adopted what Stengel calls “reported analysis,” stories with a clear point of view — often left of center — that were rooted in shoe-leather work. Newsweek, which moved more sharply left, bet the ranch last year on more opinionated essays and columns — and lost.
via WaPo.
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