Sidney Harman, the stereo equipment businessman who bought Newsweek from the Washington Post Company, spoke to the Wall Street Journal about his five-year plan to turn around the struggling newsmag, which is on track to lose $20 million this year. In all, Harman thinks the magazine is too thin -- in terms of paper width, reporting and graphics.
WSJ: What do you envision the company looking like in five years?
Mr. Harman: Newsweek managed to insulate itself from all the opportunities to expand its mark. Newsweek should be in numbers of businesses it's not in now. The lecture business, the publishing business beyond the magazine, the consulting business, seminars and conventions, newsletters.
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