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NEW YORK — At least three groups of investors have made bids for Newsweek despite expectations of continued losses at the magazine.
Initial, nonbinding bids were due Wednesday. Those submitting bids include Newsmax Media, the publisher of the conservative monthly Newsmax; Open Gate Capital, the private-equity firm that owns TV Guide magazine; and Thane Ritchie, a hedge- fund manager who made an unsuccessful bid last year for the company that publishes the Chicago Sun-Times. The bidders declined to say how much they are willing to pay.
