Conservative publisher Newsmax Media has submitted a bid for Newsweek, according to Michael Calderone.
In the event of an aquisition, the publisher does not plan to change the politics of Newsweek, or change the magazine’s commitment to objective reporting. (Suspect.)
The company is looking to diversify its brand and has mentioned an interest in expanding to other countries before. The main Newsmax title has ciruclation 800,000, so a property like Newsweek would be a good start towards expanding the company’s reach.
And apparently they make money!
Newsmax reported $35 million in revenue in 2009, up from $25 million in 2008.
Non-binding letters of interest in Newsweek are due from bidders at the end of business today.
