Haute 100 NY Update: Barry Diller’s IAC Assumes Controlling Stake In Newsweek Daily Beast
The estate of late billionaire Sidney Harman announced that it will no longer invest in Newsweek Daily Beast Co a year after Harman’s death, leaving mogul Barry Diller’s IAC/InteractiveCorp with a controlling stake in the beleaguered media company. Harman acquired the venerable but tattered Newsweek in August 2010, when the company was losing a reported $30 million annually.
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