Press: Late News from Newsweek

A sudden swap at the Top of the Week

When Newsweek staffers arrived at their desks one morning last week, they found a cryptic memo from Editor Edward Kosner summoning them to a 10:30 meeting at Top of the Week, the conference room on the 40th floor of the magazine's Manhattan headquarters. When they arrived, they were surprised to find Katharine Graham, chairman of the parent Washington Post Co. Recounted one writer: "People began to murmur, 'God, we're closing down ... We've been bought.' "

Nothing so dramatic, but something quite unexpected. Kosner, 42, stepped onto the podium, announced tersely that he was...

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