The Washington Post Company announced Wednesday that it was putting Newsweek up for sale.
“The losses at Newsweek in 2007-2009 are a matter of record,” Donald E. Graham, the company’s chairman, said in a statement. “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.”
Looks like that heroic lurch to the left hasn’t worked out like they’d hoped. Speaking of which, according to Politico:
Washington Post shifts leftward online
The once-cautious Washington Post has begun to invest heavily in the liberal blogosphere, transforming its online presence – through a combination of accident and design – into a competitor of the Huffington Post and TalkingPointsMemo as much as the New York Times.
Sounds like a smart move. There’s a glaring lack of liberal opinion on the Internet, and it’s about time somebody filled that niche.