Washington Post to Buy Web Magazine Slate http://story.news.yahoo.com/news?tmpl=story2&u=/nm/20041221/wr_nm/media_slat e_washingtonpost_dc
By Martha Graybow NEW YORK (Reuters) - Washington Post Co. (NYSE:WPO - news) on Tuesday said it would buy Microsoft Corp.'s (Nasdaq:MSFT - news) online magazine Slate, whose mix of politics, news and culture has built a loyal following but failed to yield significant profits. Financial terms of the deal were not disclosed, but Slate accounts for only a tiny portion of Microsoft's overall business. Microsoft put Slate on the block in July. Steve Ballmer, Microsoft's chief executive since 2000, has spearheaded a move to spin off businesses that are not part of the company's core software development operations. The deal came a day after Slate published a piece critical of a series of articles in The Washington Post about maternal homicides. The piece, written by editor-at-large Jack Shafer, said the newspaper did not rely on comprehensive statistics when putting forward its thesis that many new or expectant mothers die violent deaths. Slate editor Jacob Weisberg, who will remain at the helm of the magazine, said in a message to readers that Slate would retain its editorial independence under its new owners. Washington Post Co. management has "impressed upon us that they're buying Slate because they like it the way it is, not in order to make it into something else ..." he wrote. "Slate is not going to be merged, submerged, bent, folded, spindled or mutilated." The magazine has a staff of about 30 writers. Under the deal, Slate's offices at Microsoft's Redmond, Washington, headquarters will be shut down, but it will continue to operate in New York and Washington, The Washington Post said. Slate was launched in 1996 as an experiment in the nascent universe of online media. Its founding editor was former New Republic editor Michael Kinsley, a veteran Washington journalist and television pundit. Kinsley left Slate in 2002. According to Nielsen NetRatings data provided by The Washington Post Co., Slate had as many as 6 million readers in November. In its early days, Slate experimented with charging for subscriptions, but later abandoned that in favor of a free Web site supported by advertising sales. It receives reader traffic through links from Microsoft's MSN Network home page, which will continue to be offered following the sale. Besides its flagship newspaper, The Washington Post also owns Newsweek magazine, broadcast and cable TV stations and the Kaplan educational services division. Its board of directors includes Melinda Gates, wife of Microsoft chairman and co-founder Bill Gates (news - web sites). You are a subscribed member of the infowarrior list. Visit www.infowarrior.org for list information or to unsubscribe. This message may be redistributed freely in its entirety. Any and all copyrights appearing in list messages are maintained by their respective owners.
