Mike Fleming

Sidney Harman has died. The 93-year-old entrepreneur, who kept Newsweek afloat by buying the faltering magazine from the Washington Post Co for $1 and then merging it with IAC and Tina Brown’s website The Daily Beast, died Tuesday evening. He passed away from complications from acute myeloid leukemia, according to a statement the family gave the website. Harman’s family disclosed he discovered he was ill just one month ago. He died in Washington, D.C.

How Harman’s death will impact the future of the magazine/website remains to be seen. Funeral arrangements are private, but memorials are in the works. A tribute to Harman was penned on the website by Jonathan Alter, who just announced his exit from the magazine after 28 years there.