Newsmax Media Bids for Newsweek

Yahoo News reports that Newsmax Media is bidding to purchase Newsweek.

It's been almost a month since the Washington Post Co. put Newsweek on the market, and by 5 p.m. today the initial bids are due. Despite skepticism over whether there will be bidders, Yahoo! News can confirm there's at least one: Newsmax Media.

"Newsmax Media Inc. has made a bid for Newsweek," said a company statement provided to Yahoo! News.

The company also stated that its "bid for Newsweek's print and online assets is congruent with its objective to diversify and expand into numerous distinct media brand offerings, like any major multi-title publisher."

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