![]() stockholders "which included Ward Cheney, of the Cheney silk family, John Hay Whitney, and Paul Mellon, son of Andrew W. He obtained financial backing from a group of U.S. Martyn, a former foreign-news editor for Time. News-Week was launched in 1933 by Thomas J. Under Newsweek's current co-owner and CEO, Dev Pragad, it is both profitable, with revenue of $60 million, and also growing: between May 2019 and May 2022, its monthly unique visitors increased from about 30 million to 48 million, according to Comscore. The split was accomplished one day before the District Attorney of Manhattan indicted Etienne Uzac, the co-owner of IBT Media, on fraud charges. In 2018, IBT Media split into two companies, Newsweek Publishing and IBT Media. IBT Media, which also owns the International Business Times, rebranded itself as Newsweek Media Group, and in 2014, relaunched Newsweek in both print and digital form. In 2013, IBT Media acquired Newsweek from IAC the acquisition included the Newsweek brand and its online publication, but did not include The Daily Beast. Newsweek continued to experience financial difficulties, which led to the cessation of print publication and a transition to an all-digital format at the end of 2012. Newsweek was jointly owned by the estate of Harman and the diversified American media and Internet company IAC. Later that year, Newsweek merged with the news and opinion website The Daily Beast, forming The Newsweek Daily Beast Company. Revenue declines prompted The Washington Post Company to sell it, in August 2010, to the audio pioneer Sidney Harman for a purchase price of one dollar and an assumption of the magazine's liabilities. ![]() The magazine was acquired by The Washington Post Company in 1961, and remained under its ownership until 2010. Founded as a weekly print magazine in 1933, it was widely distributed during the 20th century, and had many notable editors-in-chief. It is co-owned by Dev Pragad, its president and CEO, and Johnathan Davis, who has no operational role each owning 50%. Newsweek is an American weekly news magazine. The Newsweek Daily Beast Company/ IAC (2010–13)Įnglish, Japanese, Korean, Polish, Romanian, Spanish, Rioplatense Spanish, Arabic, Serbian.The Washington Post Company (1961–2010). ![]() It is in that spirit that we’re making our latest, momentous change, embracing a digital medium that all our competitors will one day need to embrace with the same fervor. In her final editor’s letter in print Brown wrote: “This is not a conventional magazine, or a hidebound place. The decision to use a hashtag on its front cover is being seen as symbolic of the passing of the baton from print to online in a world where Twitter and the hashtag are the winners in the digital age of news and where print and Newsweek are among the losers.īrown said the move represented a “a new chapter” for Newsweek, which she has edited since 2010 when it was merged with The Daily Beast. The final issue follows the announcement in October that Newsweek was to close as part of cost cutting and an acknowledgement that the age of the newsweekly is at an end.Įditor in chief Tina Brown, who has edited Vanity Fair and the New Yorker, unveiled Newsweek’s final front cover via Twitter and posted the image along with the comment: “Bitter sweet! Wish us luck!” The cover brings the past and the future together on one page. Fittingly the black and white photo is accompanied by a hashtag: “#lastprintissue”. It has chosen to go out with a vintage photo of its old New York headquarters. Newsweek has revealed the image that will grace its final print cover, before it goes digital only in 2013, as its 80-year history in print comes to an end.
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