It sounds like the plot for a film. A billionaire plunks down $1 and walks away with a piece of American history.
Sidney Harman, a man who built his fortune selling sound equipment, is going to be the new owner of Newsweek magazine.
Good news for the worker bees at Newsweek. The New York Times recently reported that Harman would "keep the vast majority of Newsweek's 325 employees" in place, including managers and editors.
It looks like, instead of going belly up, Newsweek will continue to rant against conservative politicians as well as continue to be one of Mr. Obama's most active cheerleaders.