HOW THIS ALL WENT DOWN
Remember that time Newsweek magazine was put up for sale by The Washington Post and then “saved” by then-91-year-old stereo magnate Sidney Harman (of the wonderful line of audio/visual products Harman + Kardon)? Well, less than two years ago, that actually happened. Now, that era is over, as the Harman family is done investing in Newsweek. As a result, IAC is now a majority owner, with a print publication on its books. How, exactly, did any of this happen in the first place?
Newsweek staffers are rejoicing this evening, as a memo from owner Sidney Harman tells them that they may not have to work out of their new, but deeply unliked, offices at 7 Hanover Square for long.
As recently as March 30, 2011, Mr. Harman wrote, it “may be possible to accommodate the combined Read More
When it was reported by The New York Times Saturday, word of Newsweek.com’s demise was news to the website’s staffers. Though many on the embattled magazine’s masthead have become used to receiving close-to-home information in such a way, the fact that their jobs could be at stake — just hours after a successful Read More
Tina Brown met separately with the staffs of The Daily Beast and Newsweek today, just hours after a merger between the two very different publications was completed. Details of the combined entity, to be known officially as The Newsweek Daily Beast Company, are beginning to emerge.
The Observer broke the news last night Read More
Less than eight hours after the Observer broke the news that Newsweek was set to merge with The Daily Beast, Tina Brown made the official announcement with a late night blog post.
“Some weddings take longer to plan than others,” Brown wrote.
Talks between Newsweek and The Daily Beast began late Read More
Newsweek and The Daily Beast will announce tomorrow morning that the two publications will merge, a source close to the deal tells The Observer.
It will be a 50-50 merger of the two companies. The editorial staffs will combine under the editorship of Tina Brown, who will again run a high-profile glossy.
Newsweek owner Sidney Read More
Merger talks between Newsweek and The Daily Beast are back on—but then again, they were never off.
The New York Post’s Keith Kelly reported this morning that “after a three-week cooling off period, talks are back on.” Two sources close to the search for the next editor of Newsweek tell the Observer that Read More
Good news from D.C.: The Washington Post Co. is reporting that with its struggling Newsweek property gone, the paper’s publishing revenues were up five percent this quarter. What’s more, online profits skyrocketed a whole 21 percent.
The company, which owns both The Washington Post and Slate Group, was sinking millions keeping Newsweek afloat Read More
Since Jon Meacham left the editorship at Newsweek, the two staffers performing interim duties atop the magazine’s masthead have awaited Sidney Harman’s choice for a permanent replacement. And though the new owner said he expected to find someone by early November, Harman tells Keith Kelly at The New York Post that he will need more time. Read More
There’s a profile of Newsweek owner Sidney Harman in this week’s issue of New York, and a chunk of it appears to have been cobbled together over the last few days — the Daily Beast/Newsweek merger only fell apart less than a week ago. As a whole, the article helps make sense Read More