That’s what they’re saying:
News Corp. is near a deal to sell its right-wing political magazine, the Weekly Standard, to conservative media mogul Philip Anschutz, according to people familiar with the situation.
Launched in 1995 and edited by William Kristol and Fred Barnes, the Weekly Standard has been a pet political project for News Corp. chief Rupert Murdoch. While its circulation, according to the magazine’s website is only 83,000 (it hasn’t been audited by the Audit Bureau of Circulation since 1996), it reaches the upper echelon of Capitol Hill insiders and gave the media mogul cache among the Washington elite.
Now that Murdoch owns the Wall Street Journal, however, whose conservative editorial page wields a much bigger political stick, he may no longer really need the Weekly Standard, which preaches much the same message, but to a considerably smaller audience. Murdoch’s own political views seem to have swung more toward the center over the last few years, and that, too, might be a factor in his decision to sell.
Or, to be blunt, News Corp., as the prospects for print media shrink, may be reviewing all its assets and deciding what stays and what goes. Using that rationale, holding on to what we suspect is a money-losing magazine doesn’t make much sense.Anschutz
A spokeswoman for News Corp. declined to comment. A spokeman for Anschutz could not be immediately reached.
via News Corp. in talks to unload Weekly Standard to Anschutz | Company Town | Los Angeles Times.
I personally attempted to contact the Weekly Standard for a comment. I got the voice mail system there. I also left a message for Jack Horner, who is the Director for corporate affairs at News Corporation ; maybe I will get lucky and Jack will actually e-mail back with a comment. An exclusive on this story would be nice. I will post, if and when I do get a response to the inquiry.
More to come, possibly.