Monday, June 07, 2010

Newsmax bids on Newswek

Conservative Newsmx may buy lefty newsweek. Is this how the lefty media will be saved. Maybe Newsmax should buy CBC and the nyt as well.

.… in case any of the mainstream-media elites at Newsweek are shaking in their loafers over the prospect of being owned by a conservative company, they should keep in mind that the alternatives (being owned by a hedge funder or stereo magnate and remaining a one-magazine company unable to share back-office costs with another publication) may not be better. In fact, Newsmax is a profitable multi-platform media company that has mastered the web in a time of rapid growth and change. “As household U.S. media brands from CNN to the New York Times were reflecting on a bruising year, the Florida-based publisher ended 2009 expecting to report revenues of $35m, up from $25m in 2008,” reported the Financial Times in January. Noting its rapid success (in no small part during the election for putting Palin on its cover just days before McCain tapped her), Forbes called Newsmax the “great right hope.”

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