for $1 in 2010, and sold again in 2013 by Barry Diller’s IAC to a shadowy company called International Business Times. Whatever its shortcomings, the country lost something with the demise of classic Newsweek-a magazine with guts and heart.Īfter years of survivable financial struggles, the magazine-founded in 1933-cratered with the economy in 2008, was sold by the Washington Post Co. This was the cinematic coda to a decade of collapse. Newsweek is in the news-raided by the police last month as part of a probe into the owners’ shady finances, then subjected to a crude purge on Monday, when the owners sacked the editors and reporters who tried to write about the scandal. is losing something as the publication disintegrates-a magazine with guts and heart. Support quality journalism and subscribe to Business Standard.The U.S. Your support through more subscriptions can help us practise the journalism to which we are committed. We believe in free, fair and credible journalism. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.Īs we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content.
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Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. "It is about the challenging economics of print publishing and distribution."īusiness Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. "This decision is not about the quality of the brand or the journalism - that is as powerful as ever," Brown wrote. It later merged with the online publication The Daily Beast.
In 2010, after losing money for two years, the Washington Post group sold it off to businessman Sidney Harman for USD 1 in exchange for taking up its financial obligations.
The magazine had been struggling for several years and losing circulation in a rapidly digitalising world. The new publication will be targeted for "a highly mobile, opinion-leading audience who want to learn about world events in a sophisticated context," they added.īrown termed the development a "turn of the page for Newsweek" and said exiting print was an extremely difficult moment but it was necessary to embrace the all-digital future to sustain the journalism that gives the magazine its purpose. The new all digital publication will be called Newsweek Global, and will be a single, worldwide edition, they said. The announcement came from Editor-in-Chief Tina Brown and CEO Baba Shetty on the website of the Newsweek's sister publication The Daily Beast. The newsweekly that was first published in 1933 would bring out its last print edition this December after struggling with declining circulation over the years.
Struggling American news magazine Newsweek will end its 80-year-old run in print this year to go all digital, in what was described by its editor-in-chief as a 'turn of the page' for the publication.
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