Sidney Harman, husband of South Bay Congresswoman, Buys Newsweek

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Sidney Harman, the founder of Harman International Industries Inc., agreed to buy Newsweek magazine from Washington Post Co., ending a three-month bidding process for the money-losing publication.

The terms of the deal weren’t disclosed and the sale will not have a material effect on Post Co., the company said in a statement today.

&#8226 Read the full Bloomberg Businessweek story.

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