Sidney Harman of Harman Media has purchased Newsweek from the Washington Post Co.

Sidney Harman of Harman Media has purchased Newsweek from the Washington Post Co. for what is said to be $1 plus assumption of all obligations such as leases which are rumored to be around 30 million dollars.  Harman, 91, made his name in high-fidelity stereo equipment, founding Harman Kardon premium audio company in 1952. But he became a high-profile philanthropist and author on such topics as quality of working life, productivity and education. He earned a PhD in education in 1973 and founded the Program on Technology, Public Policy and Human Development at Harvard University. In Washington, he is a trustee of Shakespeare Theatre Company. He is married to Rep. Jane Harman (D-Calif.).

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