Newsweek Magazine Sold For $1

Liberal Newsweek Magazine was sold for about $1.
From the Washington Post: The Washington Post Co. has revealed exactly how much cash that audio equipment magnate Sidney Harman paid for Newsweek magazine this summer: $1.
The Post Co. also agreed to cover up to $10 million of Newsweek's existing bills. And it will hold on to certain employee pension liabilities, though it did not spell out a dollar figure in a regulatory filing Wednesday.
No one thought Harman paid much for Newsweek, which lost almost $30 million last year amid circulation and advertising declines.
But the magazine's sale for less than its $5.95-per-issue price on newsstands is still a grim milestone for a brand that was once a prized asset at the Post Co., which bought Newsweek in 1961. http://www.washingtonpost.com/wp-dyn/content/article/2010/10/06/AR2010100606096_pf.html
I used to like Newsweek, but that was when I politically naive. Then once I figured the magazine was full of crap, I stopped reading it.
Well, I think the price of $1 was a little steep for a magazine that belongs on the bottom of our guinea pig cage. But it has to be embarassing that Newsweek sold for only $1.