Difference between revisions of "Sidney Harman"
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| − | '''Sidney Harman''' (born 4 August 1918) is a US tycoon and husband of [[Jane Hamran]]. He is the Chairman Emeritus of [[Harman International Industries]] and as of of August 2010, the owner of ''Newsweek''. Harman's fortune is estimated at $500 million by Forbes, which he made in the 1950s with his partner Bernard Kardon with whom he invented the stereo receiver. Their company Harman/Kardon is today part of Harman International. He also served as the United States Under Secretary of Commerce between 1977-78.<ref>Sheryl Gay Stolberg, [http://www.nytimes.com/2010/08/15/fashion/15harman.html No Opportunity Unexplored at 92], ''New York Times'', 15 August 2010</ref> | + | '''Sidney Harman''' (born 4 August 1918) is a US tycoon and husband of [[Jane Hamran]]. He is the Chairman Emeritus of [[Harman International Industries]] and as of of August 2010, the owner of ''Newsweek''. Harman's fortune is estimated at $500 million by Forbes, which he made in the 1950s with his partner Bernard Kardon with whom he invented the stereo receiver. Their company Harman/Kardon is today part of Harman International. He also served as the United States Under Secretary of Commerce between 1977-78.<ref name="nyt">Sheryl Gay Stolberg, [http://www.nytimes.com/2010/08/15/fashion/15harman.html No Opportunity Unexplored at 92], ''New York Times'', 15 August 2010</ref> |
==Newsweek purchase== | ==Newsweek purchase== | ||
Harman's purchased the money-losing pulication from the Washington Post Company for a reported price of price of $1 plus about $50 million in liabilities. In the New York Times Sheryl Gay Stolberg writes: | Harman's purchased the money-losing pulication from the Washington Post Company for a reported price of price of $1 plus about $50 million in liabilities. In the New York Times Sheryl Gay Stolberg writes: | ||
| − | :What would possess a 92-year-old man with virtually no experience in publishing to embark on a business venture that lost nearly $30 million last year? And what, precisely, will Mr. Harman do with Newsweek once he gets it? [...] Some wonder aloud if Newsweek will be [Jane] Harman’s exit strategy from Congress. Still others view the deal as a favor to Donald E. Graham, chairman of The Washington Post Company, Newsweek’s current owner — a kind of gentleman’s agreement between two Washington power families.<ref | + | :What would possess a 92-year-old man with virtually no experience in publishing to embark on a business venture that lost nearly $30 million last year? And what, precisely, will Mr. Harman do with Newsweek once he gets it? [...] Some wonder aloud if Newsweek will be [Jane] Harman’s exit strategy from Congress. Still others view the deal as a favor to Donald E. Graham, chairman of The Washington Post Company, Newsweek’s current owner — a kind of gentleman’s agreement between two Washington power families.<ref name="nyt"/> |
==Affiliations== | ==Affiliations== | ||
*[[Aspen Institute]] - board member | *[[Aspen Institute]] - board member | ||
Revision as of 11:25, 16 August 2010
Sidney Harman (born 4 August 1918) is a US tycoon and husband of Jane Hamran. He is the Chairman Emeritus of Harman International Industries and as of of August 2010, the owner of Newsweek. Harman's fortune is estimated at $500 million by Forbes, which he made in the 1950s with his partner Bernard Kardon with whom he invented the stereo receiver. Their company Harman/Kardon is today part of Harman International. He also served as the United States Under Secretary of Commerce between 1977-78.[1]
Newsweek purchase
Harman's purchased the money-losing pulication from the Washington Post Company for a reported price of price of $1 plus about $50 million in liabilities. In the New York Times Sheryl Gay Stolberg writes:
- What would possess a 92-year-old man with virtually no experience in publishing to embark on a business venture that lost nearly $30 million last year? And what, precisely, will Mr. Harman do with Newsweek once he gets it? [...] Some wonder aloud if Newsweek will be [Jane] Harman’s exit strategy from Congress. Still others view the deal as a favor to Donald E. Graham, chairman of The Washington Post Company, Newsweek’s current owner — a kind of gentleman’s agreement between two Washington power families.[1]
Affiliations
- Aspen Institute - board member
- Newsweek - owner
- Jane Harman - husband
References
- ↑ 1.0 1.1 Sheryl Gay Stolberg, No Opportunity Unexplored at 92, New York Times, 15 August 2010
