Wallstreetjournal
By SHIRA OVIDE

Billionaire media investor Haim Saban said Wednesday he is planning to "take a serious look" at Newsweek magazine, which is on the auction block.

Mr. Saban said Don Graham, chairman of Newsweek parent company Washington Post Co., rebuffed him two years ago when he inquired about buying Newsweek. Last week, however, the company announced it was putting Newsweek up for sale after deciding it could not make the magazine profitable.

"I would be remiss if I didnot look at it now, but the world has significantly changed in the last two years, and not for the better," Mr. Saban said in an interview.

Mr. Saban said he received yesterday the financial materials from Newsweek s bankers, who told him there were 70 parties potentially interested in buying the magazine.

Mr. Saban said when a brand like Newsweek is up for sale, "people are there with enough money that would like to have a say in what happens in the world, and are willing to pay the price." As for his interest, Mr. Saban was non-committal. "If we believe it is an opportunity, we will make a move and if we don not believe it is an opportunity then we wont," he said.