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Newsweek worth less than zero dollars, says NYT columnist

Columnist says news magazine's title is dragging down its value.

Newsweek's worth may be less than zero dollars, David Carr, media and culture columnist for the New York Times (NYT), said in a piece titled "A Cultural Artifact on the Block" on Sunday.

He pointed out that the word "week" in the title Newsweek is outdated and holds negative equity.

The magazine responded to Carr in its unofficial blog, the Newsweek Tumblr, by saying that the title Newsweek is much better than 'Time' or 'People', especially when one has to do a search on Google.

Carr also wrote that Thomson Reuters, a potential buyer of the troubled magazine, does not want to buy Newsweek anymore. Other interested buyers such as rich patrons, other magazines and digital properties are all unlikely suitors, he added.

Despite the columnist's predictions, private equity firms such as Ritchie Capital Management and OpenGate Capital have expressed interest in buying Newsweek.