Newsweek Inc., a unit of Washington Post Co. (WPO), said that it has agreed to sell all of its equity interests in Newsweek Budget Travel Inc. to an affiliate of Fletcher Asset Management Inc. Financial terms of the transaction were not disclosed. The acquisition is expected to close by December 31.
The company noted that Fletcher will support the current management team, which will be responsible for the day-to-day operation of Budget Travel magazine and budgettravel.com. Fletcher has indicated that it intends to keep essentially all of Budget Travel's employees.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.