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The Daily Beast

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The first blow came on Monday, when the estate of the late billionaire Sidney Harman, which co-owns the Newsweek Daily Beast Co with IAC/Interactive Corp, officially announced that it would no longer be investing in the loss-making venture.

The second landed yesterday, when IAC’s Chairman Barry Diller let slip during a quarterly earnings call that “the transition to online from hard print will take place,” ostensibly giving this fall or sometime next year as the point by which the company would have come up with a plan to bury the 79-year-old weekly print magazine, transforming it into a web-only presence.

Naturally, this drove the Twittisphere into a frenzy, with some commentators more bereaved by the alleged news than others:

In the wake of Diller’s comments, Tina Brown, Editor in Chief of Newsweek and its digital bedfellow The Daily Beast, conducted damage control in the form of an email to all Newsweek Daily Beast Employees yesterday with the subject line “Scaremongering.” The email, obtained by Politico, begins: 


Emma Knight


2012-07-26 17:59


It has been about two months since Tina Brown launched her redesign of Newsweek after the merger with the online news site The Daily Beast, where she served, and still does, as the editor-in-chief.

The two titles merged in a 50/50 joint venture, The Newsweek Daily Beast Company, owned by Barry Diller, who supports The Daily Beast through his media conglomerate IAC and former U.S. Congresswoman Jane Harman, who succeeded her husband, Sidney Harman, who bought Newsweek from the Washington Post in August 2010.

As from the March 14 issue, both the 77-year-old magazine and two-year old website have been under the aegis of Ms Brown.



Federica Cherubini


2011-05-16 16:09

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