A spokesman for Newsmax Media just sent us the following statement about the company’s failed bid to buy Newsweek:Newsmax Media made a serious bid to acquire Newsweek, which we believe is an extraordinary publishing property with great potential as both a print and online product. We will not be participating in the final bid process, but the company remains committed to its long term objective to diversify and expand into numerous distinct media brand offerings.
Several news outlets this morning reported that Newsmax Media, which publishes a conservative monthly magazine of the same name, was out of the running. The New York Times’ Jeremy Peters reported that The Washington Post Co., which put Newsweek on the block back in May, had rejected Newsmax’s offer:
That is the main reason the Post Company decided not to entertain offers from Newsmax or Mr. Ritchie, according to these people. The conservative political ideology of Newsmax’s chief executive, Christopher Ruddy, is at odds with the editorial bent of Newsweek, which strives to be apolitical in its news coverage though is often criticised as left-leaning.
We called Newsmax Ruddy for a comment and are waiting to hear back. (We’re told he’s in transit.)
Ruddy previously told us that he would make Newsweek profitable in 18 months. He also stressed that he would keep Newsweek’s staff in tact and not imprint his own political views on the magazine.
The second round of bids closes today at 5 p.m.
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