IAC Sells Newsweek To Publisher Of International Business Times

By | Saturday August 3, 2013 @ 4:06pm PDT

The companies didn’t disclose financial terms. But they said today that IBT Media has agreed to buy Newsweek‘s brand and online operations, leaving its sister publication The Daily Beast with IAC. Barry Diller‘s company, which bought … Read More »

Comments (3)

D11 Confab: Barry Diller Confirms Newsweek Is For Sale, Says Aereo Expanding Further

By | Wednesday May 29, 2013 @ 12:58pm PDT

“I got seduced into Newsweek,” said Barry Diller today about his plan to sell the new magazine brand. “We started Daily Beast and it worked really well and we built up nice audiences. But we somehow … Read More »

Comments (3)

Newsweek To End Print Edition

By | Thursday October 18, 2012 @ 5:30am PDT

Tina Brown, who edits Newsweek and The Daily Beast, announced this morning that the nearly 80-year-old weekly newsmagazine will go all-digital. The December 31 edition will be the last one in print. Its online successor, to be called Newsweek Global, will offer a single, subscription-based international edition designed for e-readers, tablets and the Web and targeted to opinion leaders. Even so, Brown and Newsweek Daily Beast CEO Baba Shetty say that they “anticipate staff reductions and the streamlining of our editorial and business operations both here in the U.S. and internationally.” The execs say that they are “transitioning Newsweek, not saying goodbye to it,” adding that they “remain committed to Newsweek and to the journalism that it represents. This decision is not about the quality of the brand or the journalism—that is as powerful as ever. It is about the challenging economics of print publishing and distribution.” Read More »

Comments (11)

IAC Investment In Newsweek/Daily Beast Will Be “Considerably Less” Next Year

By | Wednesday July 25, 2012 @ 8:49am PDT

Daily Beast Newsweek IACThe news comes from IAC/InterActiveCorp chief Barry Diller in a conference call with analysts to discuss his company’s earnings. Newsweek/Daily Beast is “squarely on our heads,” he said following the recent decision by … Read More »

Comments (0)

IAC Takes Over Newsweek/Daily Beast

It’s up to Barry Diller‘s company to chart a course for the Tina Brown-run print and Internet publication. The family of one-time audio pioneer Sidney Harman decided to pull back from the joint venture with IAC. Harman was actively involved in the operation, but he died in April 2011. As a result, “the Harman trust has indicated that it does not intend to make further capital contributions to the venture,” it told Reuters, which broke the story. Harman’s wife, former California Rep. Jane Harman, will remain on the board. The big question now is how long Diller’s IAC/InterActiveCorp will be willing to stick by Newsweek/Daily Beast. Word has it the board doesn’t like the business, although Diller’s control of 42.8% of the company votes means he usually gets what he wants. The print publication had an operating loss of about $39.5M in 2009; the Washington Post sold it in 2010 to Harman for $1 along with his assumption of liabilities. But its circulation has continued to fall: It was down 31.6% in 2010 and then 3.4% last year to 1.5M. Meanwhile, the ad-supported online publication is estimated to be losing about $10M a year. Read More »

Comments (6)

Roger Ailes Admits To ‘Course Correction’ At Fox News Channel

By | Monday September 26, 2011 @ 12:31pm PDT

Don’t hold your breath, but Roger Ailes said in a new interview with Newsweek that over the past year his Fox News Channel — considered the conservative option to rival cable news networks CNN and MSNBC — has embarked … Read More »

Comments 40

R.I.P. Sidney Harman

By | Wednesday April 13, 2011 @ 7:07am PDT
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 … Read More »

Comments (1)

Newsweek & Daily Beast Announce Merger

This, after talks were abandoned just recently. The new venture will be called the Newsweek Daily Beast. Tonight, Tina Brown, Daily Beast’s co-founder, announced the merger — “some weddings take longer to plan than others” — and will top edit. The Daily … Read More »

Comments (11)

Ex-Newsweek Editor Jon Meacham Is New Random House Publishing Group Exec VP

By | Wednesday October 20, 2010 @ 9:24am PDT
Mike Fleming

(New York, October 20, 2010) Jon Meacham, the former editor of Newsweek magazine and the Pulitzer Prize–winning and bestselling author of AMERICAN LION, is joining the staff of the Random House Publishing Group as Executive Vice President and Executive Editor. His appointment, effective January 3, 2011, was announced today

Read More »

Comments (2)

Daily Beast And Newsweek Talks Fall Apart

The Wall Street Journal is reporting that talks between The Daily Beast and Newsweek have cratered. The two companies had been discussing a deal to make Tina Brown editor of Newsweek. But details couldn’t be worked out surrounding the division of power between Brown, new Newsweek owner Sidney Harman, and Barry Diller, who’s chairman … Read More »

Comments (0)

Reports: Newsweek Sale To Sidney Harman

By | Monday August 2, 2010 @ 12:21pm PDT
Mike Fleming

The New York Times and Politico report that the Washington Post Co will sell Newsweek to Dr. Sidney Harman, a 91-year old stereo equipment  magnate, philanthropist, and husband of U.S. Rep Jane Harman (D-Calif.). The NYT reports that Harman began selling FM radios in the 1950s. Now, he’ll have to prove that a print newsweekly isn’t the equivalent of the phonograph. He’ll do it without longtime editor Jon Meacham, who’s going to leave. Harman is paying $1, and absorbing Newsweek‘s “considerable financial liabilities”. Newsweek, which has been redesigned as it switched from hard news to trends and analysis, lost nearly $30 million last year alone, Read More »

Comments (7)