Washington Post Co. Mulling 'Newsweek' Sale

The Washington Post Co. said Wednesday it is exploring the possibility of selling Newsweek, the 77-year-old magazine it has published since 1961.

"The losses at Newsweek in 2007-2009 are a matter of record," Post Co. Chairman Donald E. Graham said in a statement. "Despite heroic efforts on the part of Newsweek's management and staff, we expect it to still lose money in 2010. We are exploring all options to fix that problem."

Graham said the company has retained Allen & Co. to look at a possible sale. "Newsweek is a lively, important magazine and website, and in the current climate, it might be a better fit elsewhere," he said.