Sidney Harman, the man who bought Newsweek magazine last year died on Tuesday at the age of 92, according to a statement from his family.
Harman was an audio equipment businessman who oversaw the merger of The Daily Beast and Newsweek last year.
The chairman died of complications from acute myeloid leukemia, a family statement on The Daily Beast website says. He only learned of the illness a month ago.
In the statement the family said Harman died in Washington, D.C., “a city he loved and supported in so many ways, surrounded by his wife and children.”
The family said funeral arrangements will be private, and they will celebrate his “extraordinary life” in Washington and Los Angeles, but no dates have been announced.
Harman was born in Montreal in 1918. He is the founder of Harman International Industries.
-With Associated Press