Report: Daily Beast and Newsweek to Merge

The announcement is coming tomorrow, reports the New York Observer:

Newsweekbeast "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 Harman, 92, and IAC chairman Barry Diller had for weeks disagreed over an operating structure for the hybrid publication. The deal reached today establishes a daily role for Mr. Harman and strong editorial independence for Ms. Brown…For now, Newsweek will be called Newsweek and The Daily Beast will be called The Daily Beast, with some intermingling of the names to come later."

UPDATE: The official announcement.

Comments

  1. Johninsf says

    Newsweek failed because it served up hackneyed journalism. Funny that it’s merging with the Daily Beast, which takes its name from Evelyn Waugh’s fictional British newspaper of low repute. Ha-ha!

  2. Brian in Texas says

    Newsweek is on absolute life support. The latest issue can’t be anymore than 40 pages. Not sure how this is gonna work unless they completely overhaul the magazine into something that isn’t Newsweek.

  3. Brent Z says

    Once my favorite magazine, Newsweek has been gone from our household for about a year now. They absolutely wrecked it, and this announcement continues the digging of the grave.

  4. ratbastard says

    These mainstream news magazines and other media outlets like the ‘major’ networks [ABC,NBC,CBS] are pale reflections of what they were when I was a kid. Back then [before the full blown internet] they ruled. I remember some of the crap they used to get away with unquestioningly, but no more. Part of the problem is the hotshots who run these operations livelihood depends on a self perpetuating dysfunctional culture. Their business models and cultural models are antiquated. The consumer who relates to them are dwindling, and they certainly no longer connect with the masses.

  5. Jimbo says

    Unlike Time, which was always the voice of Republican fascism, Newsweek was a liberal beacon. But a mismanaged one. I can only consider this merger as fulfiling the truism ‘losers cling to losers’. The Daily Beast just hasn’t gelled. A key part of the problem is the site’s design, unlike that of the Huffington Post, which is open and expansive, not boxed and hobbled. Another reason of course, is the editorial decisions. But if you’re sinking, the way upways isn’t to grab another sinker.

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