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Wednesday, February 28, 2018 

Newsweek could be on the way out of business

This Daily Beast article (via the Daily Wire) tells that the company owning Newsweek looks like they're on the verge of bankruptcy:
According an affidavit filed in New York County court in mid February, Guardian claims IBT currently owes the landlord $303,466 in rent.

The Daily Beast reached out to Newsweek prior to the publication of this story. After its publication, Newsweek provided comment: “Newsweek Media Group’s landlord discontinued all proceedings and withdrew all notices against the company. Newsweek Media Group is up to date on all rental payments.” When asked to provide documentation or clarification proving that, the spokesperson declined.

The saga began in November, when Guardian filed several notices demanding IBT pay its rent and utilities or else the tenancy would be “terminated in accordance with your lease.” By December 4, a notice of petition filed by Guardian said the online newspaper’s debt to its landlord ballooned to $452,000 plus interest.

The documents showed that the company did not pay rent promptly for both November and December 2017 for its fifth- and partial sixth-floor spaces at 7 Hanover Square, resulting in $138,530 in unpaid rent alone.
They owe over $300,000 in more debts, and haven't paid much of these bills of recent. So it looks like the company that engaged in ultra-leftist, pro-Islam and anti-Israeli propaganda could be on its way out from the news scene. They won't be missed. This was practically the same outfit that published a special titled "Madame President" about Hillary Clinton, who lost the election and is still falling out of favor with some Democrats since the Weinstein scandal. They won't be missed.

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  • I'm Avi Green
  • From Jerusalem, Israel
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