In yet another sign of the ever-changing media times, Newsweek, the venerable magazine owned by the Washington Post Co., has been put up for sale.
The Post Co. had grown impatient with continued revenue losses at the publication and delivered the news on Wednesday to magazine staffers.
Newsweek was founded in 1933 and in recent history had battled TIME for news weekly supremacy. The magazine was purchased by the Washington Post Co. in 1961 and, at times in its lifespan, was accused of liberal bias. Vice President Spiro Agnew, in one of his rants in the 1970s, referred to the Washington Post and Newsweek, with his famous "nattering nabobs of negativism" alliterative quote.
More recently, Newsweek made waves with the cover below which took a photo of Sarah Palin from Runner's World and used it for a cover story on the former VP candidate.
The move to sell Newsweek signals the Washington Post Co.'s desire to focus on its core business--the newspaper and its online property.