Lord knows the Washington Post Co. has enough trouble just balancing out the economic black hole that is the Washington Post. They can't deal with Newsweek's losses, too. So it's for sale. And how's this for an enthusiastic sales pitch?

"The losses at NEWSWEEK in 2007-2009 are a matter of record. Despite heroic efforts on the part of NEWSWEEK's management and staff, we expect it to still lose money in 2010. We are exploring all options to fix that problem," said Donald E. Graham, chairman of The Washington Post Co. "NEWSWEEK is a lively, important magazine and website, and in the current climate, it might be a better fit elsewhere."

Don't all bid at once!

UPDATE: Newsweek editor Jon Meacham is reportedly putting together his very own bid.

[Newsweek]