Interesting acquisition for an audio guy

mdaudioguy
mdaudioguy Posts: 5,165
edited August 2010 in The Clubhouse
Sidney Harman, the stereo industry magnate who announced Monday that he was buying Newsweek magazine, has made a lot of money in his life.

Harman, who turns 92 this week, told the staff at the ailing newsweekly that he was not all that interested in making more, at least from his new acquisition.

"I'm not here to make money," he told them, according to a Newsweek published account. "I'm here to make joy."

Good for him! Although, he must not be reading the real news much lately... joy? :confused: Oh well, this could get interesting!

http://www.latimes.com/business/la-fi-harman-newsweek-20100804,0,2796238.story
Post edited by mdaudioguy on
· Share on FacebookShare on Twitter

Comments

  • Vette C6.r
    Vette C6.r Posts: 1,560
    edited August 2010
    Co founder of Harman Kardon. Pretty interesting. He looks good for 92.
    · Share on FacebookShare on Twitter
  • mhardy6647
    mhardy6647 Posts: 33,734
    edited August 2010
    On the one hand, Sidney Harman isn't terribly well liked in this business due to the fate of some of the great names acquired by his Harman International.

    BUT, on the other hand, he's the last of the great 1940s/1950s hi-fi pioneers still with us, and he is clearly a smart and shrewd man. Newsweek is (still) a surprisingly well-written and thoughtful publication (which is probably why it's foundering!); I wish him the best of luck.

    Plus, harman/kardon has graciously provided virtually all of its legacy owners manuals (and much service information) on-line, gratis at http://www.harmankardon.com/EN-US/Support/Pages/ProductSelector.aspx
    · Share on FacebookShare on Twitter
  • j allen
    j allen Posts: 363
    edited August 2010
    That certainly seems like a bizarre business move. Especially given the popularity of JBL. I'm curious to see what comes of it.
    · Share on FacebookShare on Twitter
  • Rev. Hayes
    Rev. Hayes Posts: 475
    edited August 2010
    I heard a quick interview with Sidney this morning.

    Seems he bought the mag for only $1.

    (oh yeah, and accepted their current debt)

    I used to hate Newsweek but a while back I accidentally got a subscription for donating to my local NPR station. At first I was pissed about getting more junk mail and then a few weeks later they changed format. (both visual and content) I gotta say it's a half decent bathroom read now.

    Anyone else like the change? Or see more coming?
    Sounds good to me...
    · Share on FacebookShare on Twitter