Washington Post secures four bids

AT least four interested parties appear to have submitted bids for Newsweek, the magazine that The Washington Post put up for sale on 5 May.

Newsmax Media and Thane Ritchie, chief executive of Ritchie Capital Management, said they submitted bids. Private equity firm OpenGate Capital and Sidney Harman, the founder of audio equipment company Harman International Industries, have also expressed interest in the weekly news magazine.

The Washington Post put Newsweek on the block, citing several years of losses.