By Mandi Bierly
August 03, 2010 at 12:00 PM EDT

The Washington Post Company has agreed to sell Newsweek magazine to Dr. Sidney Harman, it announced today. “In seeking a buyer for Newsweek, we wanted someone who feels as strongly as we do about the importance of quality journalism. We found that person in Sidney Harman,” said chairman and CEO Donald E. Graham. “He has pledged not only to continue to produce a lively, compelling and first-rate news magazine, but also an equally dynamic — and he intends to keep a majority of Newsweek‘s very talented staff.” Harman, one of the pioneers who began the audio industry, is founder and chairman emeritus of Harman International.