In August 2010, Harman purchased Newsweek from The Washington Post Co., beating out several other bidders. Acknowledging that some of his friends thought he was crazy to take a bet on print and start a new venture at his age, he shrugged off the concerns. "I would be delighted over a period of some years to see Newsweek flourish, getting by on its own fuel. Break even is a serious accomplishment, especially in this world, the world of journalism," he said. "I'm not here to make money, I'm here to make joy." Four months later, he announced plans to merge the 77-year-old magazine with The Daily Beast, a youthful site founded by Tina Brown, who became editor of the combined organization. "This merger provides the ideal combination of established journalism authority and bright, bristling website savvy," a delighted Harman said.