FILE - In a June 2, 1998 file photo, Sidney Harman chats with reporters as his wife, California Democratic gubernatorial candidate Jane Harman, listens, after the two voted in Los Angeles. Audio equipment businessman Sidney Harman, who bought Newsweek magazine last year and oversaw its merger with The Daily Beast, died Tuesday, April 12, 2011 in Washington, according to a family statement posted on The Daily Beast website. He was 92. (AP Photo/John Hayes, File)
Businessman and philanthropist Sidney Harman died Tuesday night at the age of 92.
Mr. Harman gave generously to the arts in Washington D.C. He was a major beneficiary of the Shakespeare Theatre; the company's performance spaces bear his name.
"Sidney's contributions both to the Shakespeare Theatre Company and to the entire arts community are tremendously commendable and invaluable," said Michael Kahn, Artistic Director at the theatre company. "His commitment to the arts has inspired many and has been felt throughout the city of Washington and beyond."
Harman's family said in a statement that he died in Washington D.C., "a city he loved and supported in so many ways, surrounded by his wife and children." Harman died of complications from acute myeloid leukemia.
Mr. Harman built his fortune on the audio speaker manufacturing company Harman International Industries. In the 1950's, he was a pioneer in the field.
Most recently, Harman purchased the magazine Newsweek from the Washington Post Company. His family said that up until his death, the businessman had been "vigorously engaged" as the company's executive chairman.
Funeral services will be private.